Business Management

Business Management

In order for a business to succeed, it has to market its products or services to the different consumers. However, there are so many marketing variables that the business needs to look so that they can implement their different strategies. It is worth noting that not all the marketing variables can affect the business to the levels of success or failure. Therefore, the business should consider those marketing variables that are affecting the consumers.

One of the main variables is the competitors of the business. These different businesses offer the same services or products. For example, coca cola and Pepsi are two companies that can refer to each other as competitors because they offer the same product to their customers (Perner, 2008). This variable is very important because there is competition between companies for the different customers. If one company loses, most likely, it will fail in its business activities and it can even lead to closure. On the other hand, if one company succeeds, the company may become successful leading to other strategies like expansion and globalization of the company. Therefore, in order for the different companies to succeed, they should consider their competitors very much and how they are going to defeat them.

The other marketing variable that can make a company to fail or succeed is the different changes in technology. In the current business community, in order for a company or an organization to succeed they need to have the current and up to date technology (Kotler, 2011). For instance, a software company might be reluctant to change their products in accordance with the current technology. This might lead to their products being obsolete resulting to failure. This variable is important because customers go for those products that are in the current technology. Additionally, technology adds value to a product.

References

Kotler, P., (2011). Marketing Management. University of New Orleans. Retrieved from http://www.slideshare.net/taquilla/marketing-management-by-philip-kotler-719-slides

Perner, L., (2008). Introduction to marketing. University of Southern California. Retrieved from http://www.consumerpsychologist.com/marketing_introduction.html