Sunday 13 May 2012

Business Marketing Strategies Determine The Success Or Failure Of An Organization

By Ed Hulse


The success or failure of an organization is determined by its business marketing strategies. A business marketing strategy is the action plan an organization puts in place to maximally use its limited resources for a greater outcome. The greater outcome may be increase in sales or gaining a competitive advantage against a competitor.

The main objective of the action plan is to ensure that the needs of the market are met with satisfaction and the organizational goals are met. The action plan is set to cover short term and long term aims of the organization. It is interactive and flexible so as to be able to cope with the ever changing needs and wants of the market. This means that room is left for this change hence a part of the action plan is unplanned.

The action plan takes into account internal and external factors that affect the organization. The organization looks at how to use the positive factors to its advantage and how to minimize the effect of the constraint factors.

A SWOT analysis whose acronym stands for Strengths, Weakness, Opportunity and Threat is conducted when designing an action plan. Once the strengths are outline, it provides an organization with a clear indication of where its resources should be concentrated on. The weakness points are also established and improvement is encouraged on these areas.

The weakness in an organization is also outlined and policies are implemented on how to improve on the weakness. Opportunities are also revealed when doing the SWOT analysis and an organization can now think of diversifying their prospects or investing more on the same line of work.

The threats that an organization may be faced with may be ones that it can react to such as a competitor or an uncontrolled one such as acts of God. The last step when creating business marketing strategies is to implement the monitoring process which evaluates how well a strategy is doing.




About the Author:



No comments:

Post a Comment