How do firms develop their forecasts? They may create their own or buy forecasts from outside
sources such as marketing research firms, which interview customers, distributors, and other knowledgeable
parties. Specialized forecasting firms produce long-range forecasts of particular macroenvironmental
components, such as population, natural resources, and technology. Examples are IHS
Global Insight (a merger of Data Resources and Wharton Econometric Forecasting Associates),
Forrester Research, and the Gartner Group. Futurist research firms produce speculative scenarios;
three such firms are the Institute for the Future,Hudson Institute, and the Futures Group