Traditional wisdom states that when times are bad and sales fall down, management must reduce all costs except for sales and marketing. And if things go wrong, management has to cut off everything, only sales, because selling is the fastest way to increase revenue.
This business case study illustrates that, if properly implemented, strategic marketing is sometimes a faster, more effective and effective way to increase sales. The manufacturing firm's brand has enjoyed a great deal of recognition, and the long-standing business has survived and has often been rich in business history in its history. A competent management team was prepared and balanced the operational requirements with the payment requirements.
However, sales of the primary business line of the manufacturer fell back and had a serious depression in its product market. The lack of volume meant that the company did not cover the overheads. Increasing energy and raw material costs have reduced profit margins.
Product and Distribution Channels
The market perception of its products was mixed. The company enjoyed a strong reputation as a "green" building material manufacturer, but it was not good for end-user solutions. The company was not able to compete at the price.
Although the company's products were endorsed by specifications and designers due to sustainability and other specific performance features, many end-users were overwhelmed by the high cost of their products and sometimes found these products cumbersome and questionable.
Low sales volumes and slow inventory reductions reduced the company's value to channel members and retained new vendors in the acquisition of the line. In order to reduce costs, existing distributors reduced inventory of company products and reduced slower product slots manufactured by the company
. As a result, management has used a full-service marketing company and has been a full-fledged marketing campaign. The marketing message was trumpeted with the environmental awareness of the company's products but was not communicated with other performance values.
Choosing Strategic Priorities
Instead of launching a typical marketing campaign, the company had to find:
· A large amount of application …
· Cost-effective  In which there was another story telling …
· An expanding market that allows growth without having to market share …
· And restore value to dealers
] Internal Rating
The company's primary product is used for various purposes in the construction industry. Reducing the voice transmission of buildings seemed to be the best option for the company to increase the volume. Multi-family projects requiring voice reduction may require multiple payloads. The company has already put this application on the market but has not stressed it.
The company's sound-reducing product was well-performing and competitive in floor covering. They are very differently installed than the products on the market. Competitive products have been sold directly to special contractors, bypassing traditional dealers and entrepreneurs.
The housing market collapsed and could not be seen. Lack of money, the lack of too strict mortgages and the fear of falling domestic values have curbed the demand.
Yet, people needed places. Housing, while remaining alive, remained viable and increased demand was expected in the foreseeable future. Demographic changes have signaled increasing demand for student housing and assisted living. Changing consumer tastes has increased the desire for urban living. Affordable housing costs of the federal government, often in the form of apartments, have contributed to increasing economic growth.
Implementing the Strategy
It was found that the company's strategic need. The marketing group now had to focus on taking the initiative as swiftly and cheaper as possible to the larger, more capitalized competitors in the market. Any problems that customers may perceive to prevent sales will need to be resolved.
The marketing team implemented a wide-ranging tactic to support the new strategy:
Internal. In order to reduce costs, the company terminated its assignment with a full-service external marketing agency and internal marketing with independent experts. The marketing team has developed a stunning label strip in line with the new strategy. The message was simple and specific, yet universal in other company's product families.
Developing Developed Harmonized Materials The team passed its solutions and all known barriers to new marketing tools across a wide range of media including video, web site, packaging, sales tools, installation graphics, product sheets, exhibition stands and much more.
All available channels . The team refuted all available cost-effective channels to distribute the message, including company website, YouTube, and third-party sites related to industry.
Quality Improvements The marketing team has delivered quality improvements that are needed to increase market acceptance. The Operations Department has carried out innovation and improvements. Third-party testing laboratories overcame end-user performance concerns and raised trust. The shift in the marketing strategy has significantly contributed to reducing declining revenues from consecutive year to year, increasing sales by 20% and the subsequent year. Identifying and targeting an expanding market segment supported this growth in sales. The increased market share was still a goal, but no significant recurring revenue growth was needed.
Conventional wisdom companies are at risk of having the core problems not diagnosed and not forgetting sales. The strategic marketing process avoids this trap. Strategic Marketing Effectively Raises Sales Supremacy for Selling and Offers a Better Market for Selling, thereby Increasing Selling
The company could not sell the way out of declining revenue without-market strategies. He had to find a market opportunity that met his strategic needs and became one of the focal points of success. Stunning marketing messages provided effective market penetration so that individuals and teams could not sell.
If Innovative Marketing Strategies, Considering Costs, can be the fastest way to boost sales growth
Source by sbobet