Coming Soon
Subscription Marketplace - Buy and sell subscription products and services
988 views
in Articles by
Relationships vs Business Decisions ! Whats the difference?

Please log in or register to reply to this topic.

1 reply

by
Successful businesses know the importance of building and maintaining good working relationships, whether it is with partners, employees, business or trade organizations, the government, media representatives, vendors, consumers, or the community at large.  A business must carefully balance the benefits of these interpersonal relationships and should never allow these relationships to blind their judgment especially when it relates to what is in the best interest of the business's continued success and growth

Buying advertising media based on interpersonal relationships is a common mistake made by many small businesses.  This strategy throws the business's strategic marketing plan into the winds of chance in exchange for the warm and fuzzy feelings that come with doing business among friends.  However, when the smoke clears the business has made costly advertising expenditures with little or no results and the long term negative effects may not readily be seen.  Simply, the marketing / advertising expenditures have been made, the budget may or may not be busted, and the results may be none to little measurable penetration into the business's target demographic market segment.

Is buying media from a friend in the business always bad?  No, however in order to choose the most effective media channels a business must first consider the audience or customer it is trying to reach.  Developing a strong sense of the target demographics' buying and shopping patterns, interests and hobbies, entertainment and media choices for example will lend itself a tremendous benefit to making informed media buying choices.  Once the advertising business has developed a strong sense of what media channels may prove to be the most effective it should try each a little at a time carefully tracking the results of each.  Once this is complete the business will be able to make an educated decision on where to invest its marketing dollars, prioritizing expenditures into the mediums that have proven results for the business.

It is true that strong interpersonal relationships skills and the ability to develop and maintain good working relationships with a variety of people, businesses, and other organizations are imperative in today's business environments.  However, the importance of a well designed and implemented strategic marketing plan can not be understated and is paramount to the business's development and longevity never taking second seat to friendship.

Related topics

0 replies 1,315 views
0 replies 1,005 views
posted in Articles by Prepatriarch
0 replies 1,294 views
posted in Articles by VirtualAssassin
0 replies 712 views
posted in Articles by HarshThunder
0 replies 1,119 views
posted in Articles by Camella
0 replies 930 views
posted in Articles by MammothMoth
0 replies 1,079 views
posted in Articles by ShowDolphin
0 replies 1,547 views
0 replies 948 views
0 replies 944 views
posted in Articles by TwinNut
0 replies 977 views
posted in Articles by Camella
0 replies 992 views
0 replies 856 views
posted in Articles by CharmingChamp
0 replies 2,161 views
0 replies 908 views
posted in Articles by TrainedGuy
0 replies 980 views
0 replies 1,030 views
0 replies 1,272 views
posted in Articles by Conjursa
0 replies 965 views
0 replies 764 views
posted in Articles by HistoryYak
0 replies 790 views
posted in Articles by Prepatriarch
0 replies 800 views
posted in Articles by TrainedGuy
0 replies 783 views
posted in Articles by MammothMoth
0 replies 759 views
posted in Articles by BunBunny
0 replies 730 views
posted in Articles by Oystrich
0 replies 812 views
posted in Articles by KeyboardPie
...