I have written several times about the importance of a properly formulated and planned marketing strategy. In my work with various companies, I have encountered major and minor mistakes made when planning and implementing marketing strategies. I decided to collect the most common ones in one place. In my career, I have seen everything, well, almost everything. So some of these mistakes may seem funny to you, others may inspire you gambling database korea to revise your strategy, and still others may change your marketing activities.
What is a company’s marketing strategy?
In short, a marketing strategy is a professionally developed plan of action aimed at achieving specific marketing goals of a company. It consists of two key elements: a brand strategy and a communication strategy . The first defines the brand identity, its features, messages and values. The second determines how these elements are conveyed to the recipients.
These two elements need to be developed in the order given and must be based on the company’s overall business strategy. For now, however, we will focus on the most important problems that marketing teams face when building a strategy. Sometimes these mistakes turn out to be as fateful in consequences as the complete lack of a marketing strategy.
LET’S TALK ABOUT STRATEGY
Bad Marketing Strategies, What Are They?
Many marketing studies talk about mistakes in marketing strategies. You can draw common denominators from all of them. You will find them below. Rumelt clearly emphasized them in the book: “Good Strategy, Bad Strategy”. His observations, although they concern business strategies in a broad sense, have a direct impact on problems occurring in marketing strategies. These universal principles are an excellent starting point for analyzing specific mistakes that I have observed during my many years of work with various companies.
- Excessive generality – strategies lacking precision and specifics have no chance of effective implementation. The author emphasizes that assumptions that are too abstract and ambiguous lead to divergent interpretations and chaotic actions.
- Neglected diagnostics – the foundation of a good strategy is a thorough analysis of the initial situation. Rumelt points out that effective mobile phone number data strategic actions always begin with the correct identification of key challenges and problems requiring solutions.
Lack of a coherent implementation plan – vision alone is not enough.
A good strategy must include a precise plan of specific actions leading to overcoming identified barriers and achieving the assumed goals.
Relying on false assumptions – a common mistake is to rely on unfounded optimism and wishful thinking instead of sound analysis and realistic assessment of the situation. Rumelt emphasizes that strategy must be rooted in reality and based on a thorough understanding of the business environment.
- Avoiding difficult decisions – companies that try to please all stakeholders and avoid clear choices often lose strategic direction. The author notes that this leads to resources and energy being dispersed across too many fronts at once, preventing significant results in key areas.
Insufficient or incorrect identification of the target group
Skipping target group analysis is a cardinal belgium numbers mistake in marketing planning that directly affects the profitability of the company. Conducting marketing activities without understanding the target group, its specific needs and purchasing motivations is like shooting at a target blindfolded.
Neglecting to create personas (detailed profiles of ideal customers) results in inaccurate marketing communications. Accurate personas provide 5 key pieces of information:
- demographic characteristics of customers,
- the main problems and needs of the target audience,
- preferred communication channels,
- factors determining the purchase,
- typical objections and reservations before purchasing.
The jobs-to-be-done (JTBD) approach, which focuses on the tasks customers complete with the product, is an essential complement to traditional personas. Its absence prevents understanding the deeper motivations for buying.
