Marketing Blunder - 1629 Words

MARKETING BLUNDERS NAME- ASHIMA AGGARWAL GROUP-L-71 ROLL NO-10/422 INTRODUCTION: The most fatal and prevalent commercial mistakes that entrepreneurs and companies make are marketing or market related. One of the leading venture capitalists, who has looked at thousands of business plans and helped to launch many firms, says there are two reasons why companies fail. The first is lack of sales, and the second is lack of everything else. A startup business or new product or service usually fails because the firm does not satisfy enough customers, or does not do it better than the competition. Every company venturing into a new international market has to tread very carefully. In a bid to rush into uncharted territories, they often†¦show more content†¦Compounded with it a majority of Indian female population does not work. That translated really into the fact that the amount of disposable income with the middle class was not really as high as it was thought. Thus the sales of most Consumer durables, automobiles and luxury products have falle n way short of expectations. For example- Reebok read the market pretty badly. It launched its products with fanfare, with swank outlets that were called infinity and with outrageously priced shoes that were locally sourced from Phoenix International. Everything was Indian except the brand name. However it had overlooked the fact that Indians are not so fitness conscious and sports shoes are a fashion accessory in India and worn primarily by young people. By pricing it outrageously high, it had shut out the bulk of the middle class consumers who had rather cheaper choices from Liberty, Lakhani and Action shoes. Reebok was forced to do a seconds sale in Bangalore. Having burnt its fingers the company is now redoing its strategy, lowering prices and trying to deliver for money. [pic] STRATEGIC APPROACH TO INTERNATIONAL MARKETING Before any company embarks on the process of international marketing and selling its products in foreign countries, it is proper that it does a sort of strategic analysis to examine the feasibility and its scope for success. The whole marketing mix sometimes needs to beShow MoreRelatedMarketing And Sales Blunders Of Inept Agents2334 Words   |  10 PagesNo, it s not your real estate agent s fault that your home hasn t sold yet, at least not because of most agents. There are forces greater than the marketing and sales blunders of inept agents that are causing homes to linger on the market much longer than we have seen in a long, long time. If it makes you feel any better, it s not just your home that hasn t sold. You have a lot of company out there. And that, by the way, is just one reason for this mess you are in if you are a home seller.Read MoreCase Study On Small Business Managers1132 Words   |  5 Pages   Blunder # 6 – Not having an advisor with experience Ugh. At first I was going to strike this from the list because, in my opinion, it isnt applicable to every one. Some business types may be along the road less traveled, making available advisors scarce. I can think of a few industries where the managers are hard to find and the owners and founders even harder. People with valuable experience may not be available to some of you reading right now. For the rest of us here, on the other hand, findingRead MoreThe Failure of Disney Paris2387 Words   |  10 PagesFactors such as culture, conditions, the way of life and other calculated steps can be crucial. Involved in the art of making fairytales over the years, Disney’s European journey was not always a fairytale. 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