Register now or log in to join your professional community.
As known that the International Company change their Policy and Strategy in the Production, Manufacturing, Research, Marketing & Sales to improve their situations in the competition and increase the market share This change is occurred yearly or each two/ three years. Some times this change dramatically increase and repeat within a year. Why ?
Strategies cant change that fast. Some objectives could though depending on changing market needs
When strategies are made, the future market needs are kept in mind so if the strategies are changing every now and then, then there is something wrong in the corner cabin !!!
Vision, Mission, Values, Objectives, Strategies, are very calculated things and are written with great responsibility. Its not easy. A lot of time and money is spent. So if someone changes it at the drop of a hat, then something is not right. The market analysis team is to be questioned.
Change is the part of the game. Everytime customer wants something new to get engaged with and accordingly we need to change strategies to ensure more customer engagements. People who are more customer centric will always strive to have something new and better to offer to customers which is the need of the hour in these competitive times.
Need to adapt to market and embrace technology evolution
when consumer demand suddenly plummet, or as a tactic of responding to change in consumer demands or taste
unanticipated change in budget
Change is inevitable in any industry - take the pandemic for example. It was a sudden 180 and the market had to turn with it. Businesses need to conform to whichever strategy could yield the best results at the current time and situation.
Not only that - but they also need to have some kind of foresight, predicting changes and keeping up with the flow no matter how drastic (or risky) it may be is key to successful sales and marketing.
The change in strategies is due to the change in consumption pattern across users and geographies. The plans in sales and marketing are related to increasing market share and hence increasing the profits for companies. For example: if we note that brand value rank of Samsung brand was in year. The company did market research across various countries all over the world and this helped them conclude that they could focus on more upcoming markets rather than markets where the budget was wasted due to very less demand. Thus samsung invested the same budget with focus on sales and marketing in high demand countries which helped the company to grow to brand value of rank8 in. Please take a note that this brand value survey also included competitors such as Apple and Blackberry. And once this market share is established the next aim is to again repeat the strategies and focus on the left out or less focused markets.
To meet the national and international challenges (economical, political, governmental, environmental)
Having an effective marketing plan in place is critical to the success of any organization. You lack concentration if you don't have a marketing plan. And without concentration, you will simply fail to achieve any of your goals and objectives. Failure to plan is intending to fail. Marketing is not a one-time event. It is made up of various distinct components that are required at every level of a business's endeavors - from far before a sale is ever completed to long after. With so much going on, it is critical to have a plan in place. With an effective plan in place that is both repeatable and scalable, you are free to focus your efforts on developing the strategy and making it work, rather than wasting valuable time wondering about what the strategy will be.
It depends on the market trends. Some strategies are much result oriented that can cause it.
