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Ralitsa Karapetrova, Bulgaria
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Common Marketing Strategy Mistakes?
Hi, I am looking for the problems experienced by marketing managers in setting up and implementing marketing strategies. What are the most common mistakes in setting up a marketing strategy?
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Fatma Noureldeen, Egypt
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Common Marketing Strategy Mistakes Time plan: not to stick to the time plan that was set.
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chalisa
Manager, Australia
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Typical Marketing Mistakes Culture: we have to understand well about culture and environment.
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Helen Strong
Business Consultant, South Africa
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Common Marketing Strategy Mistakes - Lack of information and therefore lack of understanding of the potential consumers leading to incorrect positioning or communication strategies.
- Lack of support from top management
- Insufficient resources
- Demotivated sales force
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Stephanie Andoga, Papua New Guinea
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Common Marketing Strategy Mistakes - Coming up with new marketing strategies when previous ones worked well, they may only need updating and improvements to continue working well.
- Using the SMART principle (simple, measurable, achievable, relevant, time based).
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Charles Shillingburg
Director, United States
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Common Marketing Mistakes One of the most common mistakes is being over confident. That is thinking everything is going to go right the first time through the development cycle and under estimating the time and effort/rework that it will take to develop and successfully launch a new product or service.
Also, not sufficiently taking into account the actions of competitors when products and services are launched that render original marketing plans to the wastebasket and completely change the original (and maybe market tested) cost and timing estimates. These changes may require significant communication and negotiation with management to secure contingencies for overruns if the original timeline and costline estimates exceed corporate guidelines.
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Osama
Student (University), New Zealand
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Common Marketing Mistakes Companies failing to recognise customer needs will make costly mistakes, especially, when they did not consider the importance of delivering benefits to customers, learning about any changes in customer attitudes, and influencing their perception.
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N.BINDUMADHAVI
ASSISTANT PROFESSOR, India
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Common Marketing Mistakes Marketing manager should not be hasty in setting up marketing strategies they should first have thorough understanding about 1. the market, 2. competitors and 3. the policies and potentials of their company. If there is lack of knowledge in these three areas or if there is mismatch between the assumptions and actual scenario then the implementation of marketing strategies become erroneous.
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Himanshu Kumar Singh, India
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Marketing Mistakes: Statistics In my view, the most common mistake made by marketing managers is taking the statistical data lightly. Statistics of marketing show the nature of the market, competitors, consumers, cultural behavior, consumption, price war... Then it all helps in deciding the best strategy for marketing. That's why ignorance of statistical data or research often causes major losses.
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NIKESH DHUNDE
STUDENT, India
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Common Marketing Mistakes: Use Old 4 Ps The most important mistake is that we still follow old marketing concepts and theories. Now the market dimension has totally changed. Those 4 Ps have been replaced by profit, planet, people, pro activeness. We have to build marketing plans according to them. And the most important thing is communication and coordination between the strategy developing team and the strategy execution team. Because the front team always has more knowledge about the ground realities. But we never consider them in strategy formulation.
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Raunak Yadav
India
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Mistakes & Improvements Mistakes arises because of improper study of the market and its potential. To learn from mistakes to improve them & not to repeat them if very important for long term growth and for good image in the market.
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Philip Knowles, UK
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Knowing Where You Are The biggest mistake is not spending enough time on research first. It's difficult to decide where to go to if you don't know where you are in the first place!
- Do a TOWS analysis (threats, opportunities, weaknesses & strengths -in that order).
- Competitors - who are they, how do they compete. Other competitors - indirect competition. In the UK Waterstones have WH Smith as a direct competitor on the high street but the have Amazon on the internet and Tesco as out of town indirect competitors.
- Market - who are the customers, what, when, how and why do they buy. The rest is PESTLE with demographics replacing sociocultural.
- Weaknesses and strengths are relatively easy. Use the 7Ps plus capabilities and resources.
You can then set some objectives and create a strategy based on the situation and objectives. Remember that strategies should be broad, brush and not too detailed. Select relevant tactics as methods of achieving the goals within the strategy.
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Amit S Verulkar, India
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Knowing Where You Are In my opinion you should first conduct a PESTLE analysis. Which will provide inputs to a TOWS analysis. The opportunities & threats are the external parameters and the base for that is PESTLE.
So, conduct a PESTLE then SWOT and then position yourself with the help of the 7Ps.
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Mihaela Pierova, Bulgaria
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Marketing Mistake: Conformity to Top Managent Ideas We all know the theory, we know we have do look at consumers, market etc. However a big risk in being objective and reasonable is to stick to some pre-meditated concept which we really like and want to prove - especially if the idea is already discussed and liked in a top team.
This might lead to neglecting the data from research or not seeing some aspect of what consumers tell us, or even make us cut some research because "we already know". And sometimes small details change it all. Not being open, or conformity to top managent ideas is posing serious risk to success.
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Arif ur Rehman
Professor, Pakistan
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The Most Common Marketing Mistakes! 1. Unable to hold repeat customers.
2. Unable to focus on potential customers' values and needs.
3. Ineffective focus and positioning.
4. Trying to move ahead with no USP.
5. Absence of or insufficient research and testing.
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Rema Viswanathan
Professor, India
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The Marketing Fallacy: We Know our Customers! Customers are the creators of destiny of any organization! So it is essential for the business owners, stakeholders and the employees to be in constant touch with their customers.
But often the marketing function is assumed to be the sole responsibility of the marketing team. The top management may be disconnected from their customers that could result in costly mistakes while designing marketing strategy. An integrated approach to understanding and responding to customer needs is the responsibility of the whole organization and not just the designated few!
The other commonly overlooked factor is the dynamic nature of consumer markets that seem to change at lightening speeds under the impact of technology, globalization, political and economic ambiguities. .
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