What will you rely on while strategizing the marketing plan, a market research? My experience with market research showed how people doing market research on ground have actually fudged data so that they can increase the number of questionnaires filled and get paid more.
The next tool, would be experience! I know one can rely on their experience, but human nature(CBB) is as difficult to predict as mother nature.
Then of course there is our SWOT analysis, which definitely is a winner in our case.
But when we see all this a strategy seems more like a plan on paper to show the top management.
In the end it depends on the consumer’s behavior, market conditions, nature, government, etc and none of these are predictable.
Do you agree?!
Rejoy
1 comment:
First of all - an interesting read, Rejoy.
You know sometimes this thought does cross my mind too, that how much ever you plan your Marketing strategies, it is finally at the mercy of the end customer, who might simply choose to ignore your product.
But on second thoughts, is it really so? Well we in all our knowledge are still students with a few years of experience to back us. How many marketing strategies have we actually seen being implemented, from inception to delivery - probably too little. One can never just go about selling their wares without even knowing whom to sell them to.
I accept that there is a lot of fudging and mis-representation of data just to meet deadlines and sample size requirements in research. But then that is the reason why all the marketing gurus always recommend to take the market research data with a pinch of salt. Now this is where ones experience with the product, market and industry comes in to play.
And lastly you definitely need something substantial to work on apart from showing it to the top management for approval. One can't just fool oneself and say, "Today we start selling product X and let see how luck favours us!!!"
Do you agree?!
Rocky Paul
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