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Get a marketing strategy...make winning a habit!
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Bikky Khosla | 17 Mar, 2009
In today's business environment it has become imperative that we use our knowledge and experience of marketing strategy development and marketing planning and focus on working with our clients to get the thinking right. Developing marketing strategies and implementing them will only help us to get sustainable results in our businesses. Developing successful marketing and how we add value for our clients is the mantra to success in business.
But the question is how much importance do we give in formulating a recognised best-practice by developing effective marketing strategies and marketing plans? Also, are we serious enough in developing and implementing the effective marketing strategies for our clients?
I feel we many a times we do not give much thought to these as a result we are unable to get the best results. Companies even do not have a clear plan as to what they want to achieve and how they plan to achieve the same.
Marketing today is an essential instrument for increasing one's effectiveness and growth. A good marketing strategy allows optimization of the company's activities, gives a clear picture of target clients, and helps in adjusting the distribution system.
It's a fact undeniable that business failure rates amongst small and medium enterprises (SMEs) are high owing to the fact that they do not have clear cut marketing strategies.
SMEs in many cases fail to portray a professional image which drives away customers. They are unable to convince potential customers or clients that their business that can deliver what they promise.
SMEs today need to understand their existing and potential customers which can make a big difference to their business. Market research or gathering, analyzing and interpreting customers, markets, competition, and the industry can be the best ways to know what customers want and thus help in preparing a marketing strategy accordingly.
SMEs will now have to see marketing as an investment rather than a cost if they really want to remain competitive. It is equally important to expect to get a return on that investment, but unless one uses the right marketing strategy, it will be next to impossible to get any returns at all. So before you start marketing your products, make sure you have a marketing strategy in place beforehand. It's pointless shooting in the dark...you might win once but not always!
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Right Direction
sanjay | Wed Mar 25 23:37:44 2009
Thanks for giving good suggetion.It will help us.
sanjaybudhia@gmail.com
Marketing Strategy
Bhabani Shanker Ganguli | Thu Mar 19 06:18:13 2009
Dear Mr. Khosla,
Most SME's fail, not so much because of lack of marketing strategy, but much more often for lack of financial planning! However, both a marketing strategy and proper financial planning to back up that strategy, is required for a successful enterprise.
Another matter, to which most SME's don't pay much attention to is product quality. Without a quality product, the best financial planning and the best marketing strategy will not get you very far! If a product becomes defective soon after it is purchased, the buyer will not want to buy the same product again! This is why expenditure on R&D is so important.
Of course, to every rule, there is the exception. Rolls Royce brought a high quality product, for which only a very small niche segment of the market was interested, and the company became financially weak. mercedes Benz, with a lesser product, appealed to a wider segment of the market, and did verry well. Hindustan Motors,with a captive market, did not feel the need to emphasize quality, but lost almost their entire clientele when the markets opened up! We don't need to make rolls Royces, but isn't it better to make Mercedes Benzs that Hindustan Ambassadors?
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Re: Marketing Strategy
KAKAN GHOSH | Wed Mar 25 14:59:04 2009
Our Company Name is M/s.ASCO ENGINEERING & ENTERPRISE,HOWRAH, Our enquires is not come properly & please visit our website checkout.
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Re: Marketing Strategy
Ambassdors or Rolls Royce is not examples for SMEs | Fri Mar 27 05:59:03 2009
Sir,
Before we discuss about the quality and stategies for SMEs we must be clear in our head while example is taken to discuss. Modern India is notorious for poor standard of thinking and education
We missed it in the school itself .Next we missed it in the university and thirdly in the open new letters . From thinking action starts qauality comes latter .
when we are missing it at the words how it can compete with global standard.
We will stop careless and shody and unsupported by evidence public writings. It will become stories to fit the day's news agenda without regard to media ethics.
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