WHAT DO BUSINESS PROFESSIONALS SAY ABOUT FORECASTING IN THE MARKETING CURRICULUM?

J. Holton Wilson
Samuel A. Spralls III
Central Michigan University

ABSTRACT
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.

Keywords: Forecasting practices, forecasting technique usefulness, marketing education