What It Takes To Predict Marketing Trends

Posted on Nov 11 2016 - 7:16pm by Editorial Staff

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In order to market effectively, it is important to understand exactly what drives consumers to buy. Marketing professionals need to look at trends within a given segment of the population in order to determine what consumers will be looking for in a given period of time. Knowing how to predict market trends takes expertise in several fields as well as a little bit of clairvoyance.

Yesterday, Today and Tomorrow

It may sound odd, but the most effective marketers have a ‘gut level’ feeling based on facts they gather through a number of sources. They put all this together and make a projection for the future based on a history of buying. That is to say, they look at past buying patterns and then look at what is happening in the present in order to forecast what buying trends will look like going forward.

Historical Patterns Used to Predict Buying Trends in the Future

Because history repeats itself, anyone who has studied for a master of arts in history online from a school such as Rutgers University could tell you that marketing is no different than predicting social trends. In fact, marketing is all about trends. Just look at all the retro styles which have come and gone through the years and you will see that a historian could almost certainly look at those trends, how they evolved and the frequency at which they repeated in order to predict when and why they might occur again. An advanced degree in history could be a major benefit to a marketer.

Understanding Human Behavior

Once you look at historical buying trends it is important to understand them in the context of human behavior. Why, all of a sudden, does a majority of the population want the same type of automobile or the same type of cell phone? What drives them to become part of a trend? Some marketers have a strong background in both history and sociology because both disciplines enable you to understand human behavior as it relates to trends.

A Successful Marketer Is Multifaceted

A successful marketer can key in on both historical and human aspects of buying trends in order to use them to literally shape future buying trends. This is where a master of arts in liberal studies would come in handy to coincide with a degree in business administration with a focus on marketing. The combination would be the perfect blend of the arts and sciences and this is just what a good marketing professional needs. Metrics are good, in fact they are imperative when it comes to marketing, but understanding why those figures reached specific levels in the first place is even more important.

Statistics don’t sell products. It is something within the human psyche that creates a desire or need for something that a marketer must respond to. What this all boils down to is the fact that predicting market trends is as much an art as it is a science. Without the ability to understand what motivates people, it’s almost impossible to market to them. Sociology, philosophy or even history are all great degrees to hold if you want to really understand human behavior in order to shape or predict marketing trends. That’s what it takes – a little of the humanities, a little of the sciences and a little clairvoyance. The marketer who has a handle on all three will be in the best position to predict trends and that, in a nutshell, is what defines success.

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Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.