10 Marketing Related Reasons Why Businesses Fail
CBI Insights Lists the Top 20 Reasons Why Startups Fail. 10 of the reasons are related to poor marketing strategy and planning.
This is the 8th in a series of articles which focus on each of the 10 marketing related reasons why start-ups fail and how these might be avoidable.
The market, whether they are aware of it or not, must be ready for your product or service.
If you’re too early to market, people will struggle to see how your product relates to their wants and needs.
Entering a market too late can give your competitors an overwhelming lead.
Use research to gather customer feedback so that you aren’t launching products or services that customers don’t understand or things they don’t have use for anymore.
About the Author
Dr Colleen Bass, Managing Director, Connect203
With 20+ years senior-level strategic marketing experience, Colleen is a Chartered Marketer and Fellow of the Chartered Institute of Marketing and a Fellow of the Chartered Institute of Personnel and Development. Colleen recently completed a management practice-led Doctorate in Business Administration (DBA).
Colleen spent the first half of her career working in human resource management before transitioning into marketing and has worked with start-up companies, non-profit organisations, professional bodies and blue-chip corporations.
Her experience has spanned a variety of industries, for instance, automotive, aerospace, construction, engineering, marine, professional services and higher education for brands such as Dowty Aerospace, Dowty Precision-Handling Systems, Laing Construction, Tarmac, TI Group, Wagon Industries, Aston Business School and Birmingham City Business School.