Hope is not a strategy, this old and widely used saying seldom relates to today’s young businesses or start-ups as we call them. Start-ups today are becoming increasingly hopeful when it comes to business growth and profit margins. They are willing to jump into anything that promises short term benefits and never bother about the future. Let us take a close look at how sports in our country are doing, wherein most of our sporting associations are more or less start-ups as compared to their International counterparts.
India sent its largest delegation for the summer 2016 Olympics, but how did it fare? The powerhouse hockey team did well, but is this what India expects from its National Sport? Our Tennis stars are groomed only for doubles, when can we see an Indian winning singles title? Athletics and other sports… Is there anything to say or ask even? All this sounds disgraceful and if we think… Why? The only answer that comes fore is Lack of Strategy.
All is not so dark though. There is a ray of hope, when we look at how the badminton, wrestling, archery and shooting organizations are grooming athletes for the future. They have a definite strategy in place, where they know what they want? They are aware whom they are competing with? How fit and how well trained the athletes need to be? Their strategic approach is already showing the results. We saw that at Olympics’2016. Kudos to them!
Strategy… It is not that difficult. Everyone loves it and accepts. Only few do it. Consider our national craze – Cricket, where we worship our legends. But we are those same who are willing to accept that our national hero who once won 2011 world cup single handedly or our captain cool who led the team so splendidly in 2011, don’t fit the strategic plan to win 2019 World Cup. Accepted for sure but not learnt yet!
As a start-up it is very important to have a business and marketing strategy in place. It is very important to understand the current and future market requirements, to who does your product suits most, who are your competitors and how do they do business? There are many more -how’s and what’s and where’s that are part of the strategy that define how you can reach and satisfy your short term and long term goals.
Here’s where the marketing mix comes in picture. The marketing mix is a significant tool for creating the right marketing strategy and its implementation through effective tactics. The assessment of the roles of your product, promotion, price, and place plays a vital part in your overall marketing approach. The mix helps in determining which marketing strategy is right for your organization. It is the first step before you even create your business or marketing plan. The reason is that your marketing mix decisions also have an impact on your positioning, targeting, and segmentation decisions. You can make the targeting and segmentation decisions based on your products while positioning can be decided on the basis of your price. These decisions also have an impact on the decision you make regarding the promotion and price. Therefore, the marketing mix strategy goes hand in hand with positioning, targeting, and segmentation.
Strategic marketing consultancy is a core service that the start-up should tie up with. Many start-ups today look at it as an expense, although they do not realize that such services are actually an investment that shall avoid the expense of the start-up becoming a finish-down.
Promising Designs Pvt. Ltd (PDPL) offers strategic marketing consultancy along with design, digital, e–commerce, web content development and other services. While being a start-up itself just a few years ago, PDPL today boasts of more 50 assured customers including big and small businesses, many start-ups, who enjoy hassle free and guaranteed market strategy and consultancy from an experienced, research oriented and professional team of PDPL. PDPL specializes in Brand Strategy, Marketing Strategy, Launch Strategy, Sales Strategy, Rural Strategy, Digital, ATL and BTL Strategy amongst its other services.
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