What Do Business Professionals Say About Forecasting in the Marketing Curriculum?

The purpose of this research is to report the results of a study with business professionals concerning forecasting’s role in marketing. The objectives are to: (1) report on how business professionals perceive the usefulness of common forecasting methods, (2) report on their satisfaction with these methods, (3) learn what business professionals think about the teaching of forecasting, especially with respect to forecasting’s role in a marketing curriculum, and (4) help marketing educators develop curricula based on forecasting techniques used in industry. Based on literature, a questionnaire was developed and sent to a mixed-mode sample of U.S. and international forecasting practitioners in various industries. The results show that the most useful forecasting techniques include moving averages, linear regression trends, combining forecasts, and simple exponential smoothing. Implications for managers are presented. Marketing educators are urged to teach forecasting techniques forecasters find useful. Suggestions for future research are presented.