Business – 8.2 Marketing strategy – Planning the marketing strategy | e-Consult
8.2 Marketing strategy – Planning the marketing strategy (1 questions)
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Model Answer:
- Time lag between planning and execution – Digital trends evolve faster than traditional planning cycles, making some tactics obsolete by the time they are implemented. Mitigation: Adopt rolling 12‑month plans with quarterly reviews to update tactics promptly.
- Over‑reliance on historical data – Plans often base forecasts on past performance, which may not reflect emerging platforms or consumer behaviours. Mitigation: Incorporate real‑time analytics and scenario planning to test alternative futures.
- Inflexibility of fixed budgets – Rigid budget allocations can prevent quick re‑allocation to high‑performing digital channels. Mitigation: Reserve a contingency fund (e.g., 10‑15% of the total budget) for opportunistic spend.
By embedding flexibility, continuous monitoring and contingency resources, marketers can reduce these limitations and keep plans relevant.