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Activity:
106 views;
last activity : 02 25 2011 12:07:05 +0000
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Not Developing a Marketing Plan
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WRONG FINANCIAL PLANNING
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Not Developing a proper marketing plan
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shortsightedness
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Key to sucesses is Market research. plan & implemantation and review
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Lack of Healthy Environment for Marketing Team.
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looking at a static plan
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Not Targeting a Specific Target Audience
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not developing a proper marketing plan.
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Oversight the pure risks
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Lack of Healthy Environment for Marketing Team.
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Not considering last term result
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they concentrate only on sales and not on marketing
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myopia
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Most entrepreneurs or small companies are understandably eager to see a return on the investment of time and money they have made in their business. Ready to start cashing in, they either hit the pavement running or hire a salesperson to do it for them. But a business trying to sell a service or product, without first creating a marketing plan, is much like a marathon runner with no finish line. |
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Well Mr.Jayant Vishnu you are correct. without doing a analysis on ground realities of the market, that is to say, Market Research on the following factors, it would be very difficult to succeed in the present business environment.
who are the customers for the products
Who are the competitors and their strength & weakness
What is the market size for the products
what is the market share of the competitors and the strategy to penetrate
Deciding on the channels of distribution and product reachability to the end user
How & where to position the products and
Strategies on business development and promotional activities.
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INSPITE OF DEVELOPING AN EXCELLENT PRODUCT,PACKAGING,AT RIGHT PRICING,OWING TO INADEQUATE FINANCE WHEN THE PRODUCT STARTS SELLING BRINGS EVERYTHING TO AN END. |
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wrong financial planning can hit the best and the biggest orders which are the key for success...
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Proper marketing plan with good team is necessary to creat impact in market, which generally small business wont follow.
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they start work on tips which make profit in very shot time only and thus they loose focus on the rest of the important thing. also recruiting people in low salary which act as demotivating factor for employee.
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Market research, effective plan and its successful implementation followed by post analysis are the key to success which lacks in small businesses.
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Many small companies not creating healty business environment for their Marketing team, like proper guidance by senior authorities, proper resources which team need, lower satisfaction in terms of monitory benefits like salary, Incentive and Cnvc, In many companies Marketing team on temporary basis sometime permanent staff of company not respect or behave and cooperate properly with sales team. Company should understand if Marketing people will happy then it converts to maximum result. |
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Before analyzing the above factors, A healthy environment is very important factor which supports and motivates TEAM and as a result combine team efforts creates miracles. Healthy environment symbolizes - healthy organization in terms of employee needs, his/her future and Job satisfaction, So that he/ she can give their best with proper collaboration with their Team Members.
The collaborative evironment palys most important role in creating best work culture-by this business creates an environment in which peoples are not capable of doing jobs that they have traditionally been assigned, but are also capalble being CROSS- TRAINED. They also are ready and able to share other talents and strengths that may not be fully engaged in their current job. A MOST IMPORTANT FACTOR OF COLLABORATIVE WORK ENVIRONMENT INVOLVES WILLINGNESS TO TAKE PART.
THANKS & REGARDS,
RAGHAV ANAND.
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1.Adequate resources , financial and legal 2.Market understanding 3.Market and channel plan 4.Back end creation (office , connectivity , comercial infratsructure) 5.Good Human resources (trained , motivated and aligned with objectives) 6.Customer contact and creative re-inforcement 7.Quality and service back up 8.Effective communication internally and externally 9.Reinforcement of resources , restudy of market and plans , course correction if desired 10.Long term vision , ideology and building planning |
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How does the saying go? "You can't be everything to everyone?" When it comes to sales and marketing nothing could be truer. That's why identifying your target market is critical to your success. It is also critical to choosing the appropriate marketing techniques to reach potential customers. If you are selling a woman's product, be women-centric with your marketing, advertising, and PR campaigns. If you offer a service or product for small businesses, stick to small business publications and mailing lists. Targeting Fortune 500 companies is a waste of time and money. They already have established vendors in place. So, don't try to be everything to everyone. |
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i think target and everything will come in second....first you have to have a good foolproof plan in your hand....small businesses fail because they dont make a proper plan...if they make some plan they didn't follow properly...so i think its necessary to make a plan before..
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Oversighting the pure risks is one of the mistakes done by small businesses
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when every businessman starts his business with a strategic plan.But there is lack of well plan.They cant properly utilize the plan.......
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using latest technique for current term without consideration of last term resul they feel they r in trouble.
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one man business usually lacks ideas, hence for them sales and more sales is the only motive, which at times is like a bubble.
which due to lack of an effective marketing plan can burst any moment.
a long term strategy with a contingency plan is always handy in effective running of a small business.panic selling at lower prices is another mistake small businesses make.
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they do less research work hence fail to meet future demand. also division of labor is most important in such small business as these business generally run by family of friends together.
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