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.

This is the 2nd 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. 

Connect203 Marketing Reasons Why Startups Fail #2 Get Outcompeted

You need to continually access your market, as markets change over time.

Ignoring the competition could be a recipe for failure. Constantly collect and analyse feedback from your customers. Look for trends that may signal growth in competition in your market. Then work on your product or service to add greater value for your customer than competitors are offering. 

Greater awareness will allow you to make alterations to your marketing strategy and plan over time. 

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.