Marketing in the new decade will be no picnic -- for the sixties will present possibly the most intense competitive activity that you have experienced in the last 20 -- 25 yr..
Why? Companies of all types have made great advances in production capabilities and efficiencies -- in modern equipment and new processes, enlarged R + D facilities, faster new product development. Many companies have upgraded their sales manpower and tested new selling, distribution, and promotion techniques to gain a bigger competitive edge.
Given this kind of business climate, what competitive marketing problems will your company face in the next 10 yr.? Based on our experience with clients, we see 14 major problems which fall into three broad groups -- the market place itself, marketing methods, and marketing management.
There has been an intensification of price consciousness in recent years; there is every indication it will continue. Frequently, wittingly or unwittingly, price consciousness has been fostered by manufacturers, distributors, and dealers. Despite generally good levels of income, we see greater price pressures than ever before -- traveling back along the chain from consumer to distributor to manufacturer.
Here are some key areas to examine to make sure your pricing strategy will be on target:
Has the probable price situation in your field been forecast as a basis for future planning? Have cost studies been made of every phase of your operation to determine what might be done if things get worse? Have you actually checked out (not just mentally tested) different selling approaches designed to counter the price competition problem?