Marketing illustration Marketing theory

Forecasting and business trends

A forecast is a projection into the future that is based on evidence of past results, or on other appropriate information (e.g. what is happening in a similar market).

A survey carried out in 2000 revealed that online sales of music and videos and associated software are on course to account for 20% of the total market within 5 years. In order to create such a forecast it is necessary to look at figures for previous years e.g. 1998, 1999, and then 2000 to work out what the trend was. Using these trend figures it is then possible to forecast into the future. Forecasting is very important in marketing because it helps to give clear indications of what future demand for goods and services are likely to be.

Marketing involves anticipating customer needs and requirements. Forecasts then make it possible to respond to these changes.

Typical forecasts that help marketing are:



Supporting Documents

These downloads will help to put marketing theory into context using real world examples from real businesses.

Innovation in infant nutrition
Cow & Gate logo

Discover how Cow & Gate employed marketing theory to thrive in the food & drink industry by downloading our premium case study.

Planning effective marketing strategies for a target audience
adidas logo

Learn how adidas applied marketing theory to thrive in the sportswear industry by downloading our premium case study.

The use of the marketing mix in product launch
NIVEA  logo

Discover how NIVEA applied marketing theory to thrive in the manufacturing industry by downloading our premium case study.

Creating a winning marketing mix
JD Sports logo

Discover how JD Sports used marketing theory to prosper in the retail industry by downloading our premium case study.

Using sports marketing to engage with consumers
Kia Motors logo

Find out how Kia Motors used marketing theory to prosper in the automotive industry by downloading our premium case study.