Forecasting for Marketing

J. Armstrong and R. Brodie
Additional contact information
R. Brodie: University of Auckland

General Economics and Teaching from University Library of Munich, Germany

Abstract: Research on forecasting is extensive and includes many studies that have tested alternative methods in order to determine which ones are most effective. We review this evidence in order to provide guidelines for forecasting for marketing. The coverage includes intentions, Delphi, role playing, conjoint analysis, judgmental bootstrapping, analogies, extrapolation, rule-based forecasting, expert systems, and econometric methods. We discuss research about which methods are most appropriate to forecast market size, actions of decision makers, market share, sales, and financial outcomes. In general, there is a need for statistical methods that incorporate the manager's domain knowledge. This includes rule-based forecasting, expert systems, and econometric methods. We describe how to choose a forecasting method and provide guidelines for the effective use of forecasts including such procedures as scenarios.

Keywords: forecasting; marketing (search for similar items in EconPapers)
JEL-codes: A (search for similar items in EconPapers)
Pages: 20 pages
Date: 2005-02-04
New Economics Papers: this item is included in nep-bec
Note: Type of Document - pdf; pages: 20
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Working Paper: Forecasting for Marketing (1999)
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpgt:0502018

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