Agree/Disagree Sultan Lashari
In statement Marketing strategies are not effective and they are just a fad does not fit in the parameters of agreeable statement; it forces us to consider the health of the statement in terms of profit impact of marketing strategy. Marketing strategy many have its share of setbacks in the marketing moves if that is given the status not being effective. It does not mean holding back growth. Companies often desire a balanced product portfolio. [ (Kotler) ] To treat marketing strategy as just a fad is on the wrong basis, because the strategy changes in terms of several key strategic factors that can be explored to make changes of the situation.
The term fad is a product life cycle type and a fad curve represents quick popularity and a sudden decline and extended fad except that residual sales at a fraction of earlier sales after the initial success . A sophisticated marketing planner must be able to ask the right questions and planning strategy must relate to the problem of building right kind of approach which is nothing but a path way to achieve the desired end in competitive market environment. [ (Forsyth) ] In order that marketing strategy is shaped to win-win situation that is to be termed effective, it must see that marketing strategy is devise around the stage, a particular product is in the product life cycle which has a typical pattern from traditional, boom or classic, fad, extended fad, seasonal or fashion, revival or nostalgia and bust. In fad time, sales look like:
In devising marketing strategy, we must keep in mind that it can only be considered effective if we do not disregard the basic fact that product promotion has a direct bearing to the stage a product is at in the product life cycle. Formulating and implementing marketing strategy is a distinct decision-making focus. Planning and executing the marketing strategy involves many inter-related decisions such as: what to do, when to do it, and how it should be done. [ (Forsyth) ] This is got to be based on the nature of the organization and its product portfolio. The reason for calling marketing strategies ineffective or different organizations could be attributed to something for saying sake. As a matter of fact, marketing strategies involve various market situations and one need to make decisions intelligently.
The process of formulating and implementing marketing strategies involves corporate objectives and strategy. [ (Forsyth) ] The marketing is the game of variable and by placing heavier accent on one or more of the marketing variables that is product, price, promotion and distribution, the winning platform can be labeled. The entire marketing concept leaves much to imagination in developing correct mix [ (Kotler) ]. In a nutshell, devising marketing strategies necessitates due diligence on the stage, the product is in the product life cycle because you have to understand market opportunities in or business level objective, for new market entries, for growth markets an or mature and declining markets. This enables the marketers for correct target marketing and product positioning. [ (Kotler) ]
Forsyth, P. Every thing you need to know.
Kotler, P. Management skills in marketing.