Even the best marketing strategies need to be revisited, if not revised. Changes in the market environment can dramatically change the marketing mix and your product plans. Marketing scheme should be viewed as a process, which means that the best laid marketing plans will change sooner or later.
Strategic change can be caused by many forces; somemultiplication change is a threat patc other multiplication it can be an opportunity. It all depends on how your product or business is defined; additionally, how you react may be the biggest factor your future success.
Somemultiplication the market evolves and the demand for an offering changes. For example, corpulency is on a dramatic rise in North America; because of this people are becoming more "food label savvy" about calories, fat grams, sugar, carbohydrates, and protein. Fast food restaurants have had to respond with salad bars, better revelation of biological process information, and leaner products.
Another source of strategic change is technological innovation. As microprocessors increase in speed and processing ability, older personal computers quickly become obsolete. A more turbulent technological change might be the creation of the MP3 format and downloadable music. Music is now purchased one song at once instead as albums of songs.
Occasionally, a market is redefined. This is often driven by competition or client demand. Today, our fast paced culture demands a more personalized relationship with information, which has created wikis, blogs like this one, and the birth of IPTV (Internet Protocol Television). This new information content business allows the reader or looke to get "personalized content" when they want it and where they want it.
Also, marketing channels change. Today the net has changed the relationship of clients with providers. No longer contingent the provider for education on products and services, the new consumer is more knowledgeable and sophisticated than ever. In fact, the consumer is more powerful and will get what they want or they will find other provider.
For the marketing strategist, the challenge is to anticipate the changes and catch their destiny. The alternatives of delaying action or acquiring flabbergasted can mean business failure.
As former GE CEO Jack Welch said, "Change before you have to".
