Marketing Blunder
MARKETING BLUNDERS
NAME- ASHIMA AGGARWAL
GROUP-L-71
ROLL NO-10/422
INTRODUCTION: The most fatal and prevalent commercial mistakes that entrepreneurs and companies make are marketing or market related. One of the leading venture capitalists, who has looked at thousands of business plans and helped to launch many firms, says there are two reasons why companies fail. The first is lack of sales, and the second is lack of everything else. A startup business or new product or service usually fails because the firm does not satisfy enough customers, or does not do it better than the competition. Every company venturing into a new international market has to tread very carefully. In a bid to rush into uncharted territories, they often commit grave errors which prove very difficult to undo later on. Some of these errors are absolutely unwarranted and provide no logic as to why the best marketing companies across the world committed them.
We can define marketing blunders as follows-
A blunder that results from offering an inappropriate product or service that has negative economic impact on the firm or from how the product/service is offered is known as marketing blunder. This occurs when a product or service offered does not meet societal needs or cultural norms.
SOURCES OF INTERNATIONAL MARKETING BLUNDERS
1. INABILITY TO READ CULTURAL CUES PROPERLY :
Multinational companies sometimes fail to read the cultural foundations as they move from country to country selling their products. They feel that the strategy which had delivered them success in other countries and their home turf would be replicated in most of the countries and but sadly this is not so. Examples: Procter & Gamble blundered, when it launched the “cheer” laundry detergent in Japan, overlooked the fact that Japanese wash their clothes in cold water and advertising campaign that Cheer washed clothes at all temperature seemed rather meaningless.
2. LAUNCH OF THE
NAME- ASHIMA AGGARWAL
GROUP-L-71
ROLL NO-10/422
INTRODUCTION: The most fatal and prevalent commercial mistakes that entrepreneurs and companies make are marketing or market related. One of the leading venture capitalists, who has looked at thousands of business plans and helped to launch many firms, says there are two reasons why companies fail. The first is lack of sales, and the second is lack of everything else. A startup business or new product or service usually fails because the firm does not satisfy enough customers, or does not do it better than the competition. Every company venturing into a new international market has to tread very carefully. In a bid to rush into uncharted territories, they often commit grave errors which prove very difficult to undo later on. Some of these errors are absolutely unwarranted and provide no logic as to why the best marketing companies across the world committed them.
We can define marketing blunders as follows-
A blunder that results from offering an inappropriate product or service that has negative economic impact on the firm or from how the product/service is offered is known as marketing blunder. This occurs when a product or service offered does not meet societal needs or cultural norms.
SOURCES OF INTERNATIONAL MARKETING BLUNDERS
1. INABILITY TO READ CULTURAL CUES PROPERLY :
Multinational companies sometimes fail to read the cultural foundations as they move from country to country selling their products. They feel that the strategy which had delivered them success in other countries and their home turf would be replicated in most of the countries and but sadly this is not so. Examples: Procter & Gamble blundered, when it launched the “cheer” laundry detergent in Japan, overlooked the fact that Japanese wash their clothes in cold water and advertising campaign that Cheer washed clothes at all temperature seemed rather meaningless.
2. LAUNCH OF THE