Essay on The Basic Principles Of Flexible Marketing
While businesses may breathe a sigh of relief if they have followed our advice on how to ensure their survival, it is also necessary to look at the marketing model. The basic principles of flexible marketing are similar to those of survival as they involve tight cash management and being aware of the fixed nature of many contracts for promotion initiatives that either don 't work or become a financial burden.
Marketing can be complicated as it involves getting a mix right between many variables. There are lots of alternative ways to achieve marketing objectives where it is often difficult to measure success in terms of 'return on marketing spend ' or 'bang for buck ' when developing a marketing plan.
Quite apart from developing a plan, marketing activities can serve a number of purposes which makes measurement even more difficult. The most effective model will be different for every business, but when markets are so uncertain and cash is tight marketing can make the difference between failure, survival or growth. The real issue is uncertainty where the key is to understand and then manage the relationship between cost and return for different marketing activities. Flexibility reduces the cost of switching between…