Forecasting Applications in Marketing and Small Business

Abstract

Forecasting is part of the decision‐making process and has become an important component in all marketing activities. Methods of forecasting range from simple moving averages to sophisticated input‐output models. Forecasting, as a tool, provides marketing managers with data and information regarding projected sales volume, sales costs, market shares, magnitude of target markets, and other areas of marketing planning and control. The role of forecasting in marketing is emphasised, a few popular forecasting techniques which can be used by small firms are described, the major criteria which are considered when applying forecasting to marketing are discussed, and some implications which may concern the entrepreneur are explored.

Citation

Frontistis, T. and Apostolidis, P. (1987), "Forecasting Applications in Marketing and Small Business", Marketing Intelligence & Planning, Vol. 5 No. 2, pp. 24-29. https://doi.org/10.1108/eb045749