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Customer Relationship Management (MKT610)
Graded Discussion Board (GDB. 02)
Topic: Reasons why strategic plans fail?
To ascertain the reasons of failure of strategic plans
To establish the importance of marketing research
Fashion Inn provides customized tailoring services to its different clientele. Recent trends in the market show that the company needs to modify its strategy a little bit. Thus according to a new strategic plan they have also started a new fashion boutique for ready to wear trendy garments aiming at different segments of the market. However the new project has faced huge losses and has failed to attract the anticipated customers. According to a short survey conducted in the boutique, “Customers’ likings and present fashion trends are not simply reflected in the fabric selection, cuts, colors, and designs”. Mr. Shahnawaz Ali Company’s marketing division’s head has attributed this new strategic move failure to lack of marketing research. He does not see the closing of this new project to be the solution for recovering losses rather proposes to initiate a small marketing research cell as a solution to the problem. However, his proposal has faced resistance from many sides in the organization and he needs to convince the company’s CEO for the need of carrying out marketing research.
Do you agree with the marketing manager’s point of view that the strategic failure is a result of inadequate marketing research or something else? Give possible reasons for agreement or disagreement.
By completing this activity, the students will be able:
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