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:



Glossary »

Supporting Documents

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

The use of social media in promotion
National Trust logo

Find out how National Trust employed marketing theory to thrive in the non-profit industry by downloading our premium case study.

Protecting the marketing mix through intellectual property rights
Intellectual Property Office logo

Discover how Intellectual Property Office used marketing theory to succeed in the public sector industry by downloading our premium case study.

Meeting customers' needs
Travis Perkins logo

Discover how Travis Perkins employed marketing theory to prosper in the construction industry by downloading our premium case study.

Using sponsorship to increase brand awareness
Infiniti logo

Discover how Infiniti used marketing theory to thrive in the automotive industry by downloading our premium case study.

Creating a winning marketing mix
JD Sports logo

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

Newsletter

Subscribe to our newsletter for current business news including lesson plans and activity ideas.

Share this website