Marketing Staff Helping in Financial Forecasting

Subject: Marketing
Pages: 1
Words: 274
Reading time:
< 1 min

Marketing stuff is essential for data forecasting for financial managers due to research which marketing staff conducts to estimate market behavior and future of company’s sales. Financial managers work with historical data which is used for future sales predictions and sales strategies, yet the relevance of this data is not absolute as the market is subjected to different trends which have direct and indirect impacts on the company’s sales. Research of the subject area done by marketing department helps to analyze market potential, the attitude of potential customers towards goods offered by the company as well as to find those potential customers and develop a marketing strategy, which will allow too wide the circle of company’s customers, etc.

Today it’s impossible to build any serious and long-term sales strategy for a business that has little knowledge about the market potential for the chosen business. Unreliable marketing estimations may lead either to over-saturation of the market, a deficit of goods, overproduction, stagnation, etc. Any of these effects would have a direct negative impact on the company’s performance and will lead to losses only. Distribution of labor today is a basic principle of coordinative functioning of the whole business apparatus of a company, and the role of marketing staff is very important. Financial managers cannot make accurate financial strategies and make relevant predictions without clear information about market behavior, the ratio between demand and supply, etc. Marketing specialists not only provide this information but also give consultations about the methods which can be used in order to boost sales and increase customers’ number.