The article on forecasting showed the prevailing literature of 30 years ago regarding market forecasting and environmental forecasting showed me that this aspect of market research has had a few iterations, based on modern methods used or iterations of the methods described in the paper. Methods such as causal relationships, the Delphi Method, the Jury Method of qualitative research, as well as the market factor index method are still used today with variances according to the company’s resources, needs and objectives.
Market research for forecasting today incorporates a lot of quantitative data due to the advancements in technology and software tools for simulation, data storage and econometric analysis, among other tools and benefits. So the forecasting can be accelerated in some instances. Of course, unless the company has a skilled Marketing Staff that can interpret and extrapolate etc, companies end up using trade agencies and CSOs to assist with this type of research.
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