Business is not without risks – this is an axiom that cannot be disputed. But why do some companies prosper, even among strong competitors and in difficult economic situations, while others quickly close? It’s all about assessing and managing marketing risks. What is it, how to identify them, assess them and avoid unpleasant situations – experts from the agency “Precisely.” tell us.
What are marketing risks?
Marketing risks are potential how to build phone number list threats that lead to undesirable consequences for the company. They entail loss of customers, decreased profits and other problems that prevent the achievement of set goals.
The authors of books on marketing are divided into two camps. Some argue that this type of risk depends on the company’s marketing management and making wrong decisions. The second group is sure that the risks include not only employee errors, but also external factors: economic crises, inflation, competitors’ activity, disasters.
Experts of the agency “Precisely.” believe that it is important to take into account all types of risks in the marketing promotion strategy. Therefore, the article will consider internal and external threats, as well as methods for assessing marketing risk.
Types of Marketing Risks
Depending on the source of occurrence, marketing risks are divided into 3 categories.
Marketing risks
They arise in the process of product sales due to errors of employees or management. They may appear for the following reasons:
gross violations in conducting marketing research ;
errors in choosing the target audience and its segmentation;
pricing issues;
mistakes when choosing a company or product name;
poor organization of the distribution network;
mistakes in choosing a product promotion strategy.
The Chevrolet company produces a car that is called “Chevrolet Aveo” in Russia. In the rest of the world, the car has a different name – “Daewoo Kalos”. The company reduced the risks, because the original name evokes associations inappropriate for the car in a Russian-speaking person
Risks of interaction with partners
The key to effective business how to get 1000 subscribers in development is the ability to delegate tasks to intermediaries or partners. A company can order from a counterparty the launch of targeted or contextual advertising, calling clients, transporting goods, storing products in a warehouse.
Unfortunately, cooperation with counterparties also carries threats. For example, intermediaries can:
make mistakes in setting up advertising;
delay the delivery of goods;
disrupt the deadlines for the provision of services;
make mistakes with accounting documentation, which can lead to problems with the tax authorities;
terminate the service agreement unilaterally;
become insolvent or legally incompetent.
External risks
This group of marketing risks au emai list includes situations that occur in the market and do not depend on the company’s management or employees. These include:
entry into the market of strong competitors, including foreign ones;
increased activity of direct competitors;
political changes affecting the market;
the emergence of new technologies that change consumer demand;
disasters that lead to problems in production or with the supply of goods.
