This paper presents results from personal interviews with high level marketing decision makers in 40 U.K. companies. The companies were selected using a stratified random sample. One question related to the methods they used to make forecasts for their marketing plan. This plan typically covered one year, but in about 20 percent f the cases it extended for 2-3 years. Their responses were as shown in Table 1.
Simple, unaided opinions and crude extrapolations were the dominant methods for market forecasting.