Essay about The Problems Facing The Marketing Industry

721 Words Oct 28th, 2015 3 Pages
Gone are the days of one-sided sales pitches with eye-catching visuals, upbeat music and memorable slogans. While all of those are important parts of developing marketing pieces, marketing has evolved into an interactive experience with consumers taking control. Some general problems facing the marketing industry include price wars, losing competitive advantage, and not conveying the right message. The client that I have selected is ALDI and they face many of these problems. In the 21st century, you would think we had moved past price wars. “ The most common cause of price wars is someone trying to increase market share, which usually means taking share from your competitors. The fastest way to do this is by lowering your prices,” (How to Survive a Price War, 2011). While increasing market share is valuable to success, a price war is the wrong way about it because “ Your competitors will lower their prices in response. Now both companies have the same market share as before, only at lower prices,” (How to Survive a Price War, 2011). The back and forth exchange benefits neither the instigator nor the competitor. Today marketers attempt to combat price wars with “Price Match Guarantees” that promise to match any competitors lower price advertised. The price match puts the savvy consumer in control because if they monitor prices in weekly circulars or on their smart phones they can get a better deal from most major retailers. This remains a challenge today because…

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