Every marketing strategy will have advantages and disadvantages. In the world of business, there is no such thing as the perfect marketing strategy. A business owner should examine each marketing strategy and weigh the benefits against the costs. Successful marketing might depend upon using different strategies to produce the best overall result.
In order to develop a marketing strategy, each aspect must be examined for both advantages and disadvantages. During the process, cost is usually factored into weighing the pros against the cons of a strategy. Although an advantage might be to bring in new customers, the disadvantage to the strategy could be it could cost too much to gain the new customers.
If a marketing strategy concerns itself with distribution, examining and accessing the cost of different distribution methods will reveal if the strategy should be implemented. For example, one way to distribute information is through email marketing. Although the advantage is email marketing is relatively inexpensive, the disadvantage is that because of the high volume of spam junk mail, many Internet service providers have set up elaborate filters to keep out unsolicited emails.
One marketing strategy that has gained popularity in the new media world is “viral marketing.” In viral marketing, a clever or emotional campaign begins to spread quickly through the Internet. This is usually accomplished through word-of-mouth means, as well as through social networks such as Facebook and Twitter. The advantage to this marketing strategy is that it gets a widespread awareness of the product or service, but the disadvantage is that there is no control over how the material spreads.
In deciding on a marketing strategy to use (or a combination), it is necessary to examine the advantages of each strategy and the disadvantages. In many cases, if there is a greater advantage over a disadvantage to a strategy, it could probably be implemented. However, it is also a matter of personal choice in some cases. For example, although an effective marketing strategy for a product might include TV advertising with programs that have high audience ratings, a disadvantage to that could entail sponsoring a program that some might find offensive or in questionable taste, which might lead to a boycott of the product or service. Deciding whether to alienate one group over enticing another group would need to be determined by the team behind the marketing strategy and the company itself.
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- Outsource Strategies International: Advantages and Disadvantages of Viral Marketing
- Entrepreneur: 5 Ways to Kill A Great Marketing Plan
- Business Financial Services: New Media and Online Marketing Strategies Advantages and Disadvantages
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