Wednesday, April 15, 2009

sink or miss the boat?

Choosing marketing strategies is a tough call -- especially entry level activities. For instance, the pioneers who advertised in TV made decisions that changed the way they did business. We hear of the successes...
Like Kellogg's whose story is popping up all over the place right now. They increased their advertising dollars during the 30's and experienced exponential growth. ... but what about the thousands of companies that went bankrupt?
Revenue growth is a complex art...
Academics Peter Dickson and Joseph Giglierano suggest businesses are concerned about two kinds of failure:
“sinking the boat”: making a bad decision at a key time that sinks the company.
“missing the boat”: simply ignoring opportunity or taking too long to adopt.
When is the right time to make a bold business decision: Kraft launched Miracle Whip in 1933. Hardly the right time considering the economic climate.
Ford launched the Edsel in the 50's -- at the height of commercial success. Thousands of case studies have focused on the stunning failure of the Edsel -- the wrong car at the wrong time.
Audience affinity for your product -- whether an actual physical product, service or compassionate opportunity -- is critical.

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