8 Deadly Marketing Sins
This article briefly lists 8 deadly sins companies do that make them left behind or go out of business. In front of every mistake what should actually be done to avoid that mistake is written. Enjoy 🙂
- The company is not sufficiently market-driven. – The company segments the market chooses the best segments and develops a strong position in each chosen segment.
- The company does not fully understand its target customers. – The company maps its customers’ needs, perceptions, preferences, and behavior.
- The company doesn’t monitor its competitors well. – The company knows its major competitors, their strengths and weaknesses.
- The company is not good at finding new opportunities. – The company develops systems for identifying opportunities, ranking them, and choosing the best ones.
- The company’s marketing plan and planning process are deficient. – The company manages a marketing planning system that leads to insightful long-term and short-term plans.
- The company’s brand-building and communications skills are weak. – The company builds strong brands by using the most cost-effective communication and promotion tools.
- The company is not well organized to carry on effective and efficient marketing. – The company builds marketing leadership and a team spirit among its various departments.
- The company has not made the maximum use of technology. – The company constantly adds technology that gives it a competitive advantage in the marketplace.
Reference: Strategic Marketing Management Book by Philip Kotler and Kevin Lane Keller