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Advantages and disadvantages of a marketing strategy
Every marketing strategy has its own advantages and disadvantages. In the business world, there is no perfect marketing strategy. An entrepreneur must examine each marketing strategy and weigh their benefits and costs. Successful marketing strategy may depend on the use of different strategies to obtain the best result .
1. Development of a Marketing Strategy
To develop a marketing strategy, one should analyze the advantages and disadvantages of each aspect. During this process, the cost is usually the main factor that determines the pros and cons of a strategy. Although the development of a great marketing strategy attracts new customers, the downside is that it’s too expensive.
2. Distribution Marketing strategy
If a marketing strategy has to do with distribution, examining the costs of different distribution methods will help determine if the strategy should be implemented. For example, one of the way to distribute information is through email marketing. Although the distribution marketing is relatively cheap, the disadvantage is that due to the large amount of spam, many Internet service providers have created filters to avoid unsolicited emails.
3. Viral Marketing as a marketing strategy
A marketing strategy that has gained popularity in the new media world is the “viral marketing.” With this strategy an intelligent or emotional campaign begins to rapidly spread through the Internet. This is usually accomplished through recommendations and by social media networks such as Facebook and Twitter.
The advantage of Viral Marketing strategy is that it manages to present the product or service extensively, but the downside is that there is no control on how the information is spread.
4. Decisions in Marketing strategy:
When deciding on which marketing strategy is most appropriate (or a combination of marketing strategies), it is necessary to examine the advantages and disadvantages of each strategy. In many cases, if the marketing strategy has more advantages than disadvantages, this strategy could be implemented. However, deciding the appropriate marketing strategy is a matter of personal choice in some cases.
For example, a marketing strategy for a particular product may include advertising in television programs that have high ratings, but a disadvantage could be sponsoring the program that some may find offensive or in bad taste, which would result in disinterest of product or service. The strategy that is more attractive for one group may not be interesting for another group. Hence deciding right strategy for the target group is considered one of the most important aspect in a marketing strategy.
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