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In my career till yet, I have found Marketing & Market & Consumers are always uncertain and almost impossible to predict any forecast. These three takes very tough exams not only of marketing personnel even management, communication & administration and cost very huge. How to manage ?
To understand the market and the customer one has to spend some time in that market and do thorough research about it and best plans to manage uncertainities of market and customer come from market itself.
i believe it depends on the market you operate within.
in the middle east especially working with countries like iraq,syria,libya,..etc. i agree with you that forcasting becomes a huge challenge.but operating in such climates you should always have backup plans ready.
i have been dealing with the iraqi market for10 years now,i have had constant challenge ,i have learned over the years to have backup plans ready and in force.and with all that i still have daily challenges,but the outcome when operations are running smoothly the return on investment is extremely good.
The uncertainty is the big challenge in marketing. So we must depend on different kinds of analysis:
1- Trend analysis.
2- SOWT analysis.
3- Marketing analysis
4- Competition analysis
Agree with both answes given by Mr.:Amer
&
Mr.:Nasir
agreed with hashmi sahib,,,
I agree with the answers of Alamgeer Hussain Hashmi, and Amer Jayyousi..
To understand the market and to be able to predict the future market conditions, one need to spend time to research and cosider the current trends, environmental factors, political decisions, past market performance while making any decisions, at the same time have fallback plans as mentioned by Amer...
Market is huge thing where everybody exists but you can maintain yourself with trust,customers demand fulfill and deal with them in a professional way and look market competitors according to that make strategies.
Need to explore and understand market dynamics.
sales forecasts have their own assumptions ...
Validating theseassumptions as time goes by is very good to affirm these forecasts and make them more certain Taking necessary actions can also improve the certainty of these forecasts
To keep the customer with your organisation by communication and telling him all the latest scheme, rates etc.
In the world of Business must be facing like this positions, Certain or uncertain this probabilities, the company will be facing like this facts, so the logic say from your side should be ready for like this positions, through your studies must be expect all probabilities, at the same time must be a solution between your hands for each problem ,don't forget you are working in competitors environment, not in monopoly market, if you need to be certain for most in your decisions.make sure that :
Put the right person in right place.
Make sure that the marketing team is equipped with training courses in Marketing.
Make sure your team has the arts and skills of negotiate Salesman
Study the market through marketing research by a efficiency team
Each market Needs a different strategy in marketingstudy carefully the competition products through Price quality and package.
additions to the above be careful to choose the suitable time to marketing your product.
When you are ready with all of the above points can not blame yourself that the opposite happened.
Regards.
