techniques in marketing forecasting

More companies probably undertake some form of forward estimation of their markets and their sales than of any other aspect of their activities. The estimates produced may then be used in a variety of ways, such as in production planning, planning the sales force, setting advertising appropriations, estimating cash flow, assessing the need for innovation or diversification, and in considering the general position of the company in the future. Unfortunately, although much of this forecasting is very good, a great deal of it is of poor quality and of doubtful value.