Winning Marketing Strategies
by Barry Feig.
Prentice Hall, 1999, 382 pages, $49.95.
When a particular product's sales drop, do you immediately slash prices? Are you getting the results you want out of youradvertising and marketing dollars?
Many marketers today are too stubborn about doing things the way they've always done them, author Feig claims. They thinkthat what worked five years ago is still the best bet, then wonder why sales are stagnant or why they've fallen behind thecompetition. By clinging to what's comfortable, Feig says, salespeople and marketers are passing up a chance for realsuccess.
Time to look for new ideas, new strategies. And here's the book to help you do it.
A Library of Strategies
Winning Marketing Strategies offers more than 600 marketing and sales strategies for all different situations. The table ofcontents, nearly a dozen pages long, offers a detailed breakdown of topics, making the book convenient for at-a-glancereference. Frequent sidebars summarizing key points make the text ideal for repeated skimming. Checklists, schedules, andtimelines also support each strategy.
One chapter, for example, deals with turnaround situations.
Feig begins the section with some general guidelines. Lesson #1: Be aware. Make sure you're in a position toquickly recognize problems that may lie ahead or current mistakes you are making.
Second, determine the causes of the problem, not just the symptoms.
Third, determine and list all possible corrective actions to be attempted.
Now, work fast, work accurately, and be ruthless.
The final lesson: Learn from your mistakes.
Along with these general guidelines, Feig uses sample turnaround situations to show how to organize your thinking and plan aresponse.
Here is a sample:
Problem: Products are out of date, and the competition is selling faster and more efficiently.
Symptoms: Distributors and salespeople are complaining. What were once best-sellers are stagnating or trendingdownward. You're losing market share. And your competitors are clearly superior.
The usual culprits: Managers building the line without feedback from customers. They're using internal opinion, not facts, tomake their decisions.
How to solve: Get feedback from customers and analyze this feedback to identify new or existing target markets or segmentsthat you are neglecting (or missing altogether). How well do your products fit what customers need? Another question: howprofitable are they?
The data and analysis from the customer feedback will help you update your products and pursue new areas that representnew profit potential.
Final steps: Implement the plans and monitor the progress.
Interactive, User Friendly
Winning Marketing Strategies is an interactive, user-friendly book. Worksheets cover almost every detail ofmarketing, from overall strategy to rating advertising agencies. Feig makes effective use of real-world examples to illustratehis points, so you will be able to make his strategies work for you, and spark your creativity to come up with ideas of yourown.
"The key to using this book is to adopt and adapt," Feig writes. "Adopt what has worked and adapt it for your particularproduct or marketing environment."