Strategic decision making in marketing
Meet Rob
- Name: Rob
- Position: Product manager
- Company:Â consumer goods company
His story
Rob, the product manager of a large consumer goods company has a ground-breaking idea for a new product. It requires cutting-edge technology and expertise that the company does not possess.
Knowing that the project’s success depended on having the…
Follow our series of blogs where we are going to unravel how Rob managed to implement cutting-edge marketing technology.
In this blog, we'll explore the ways to make strategic decisions in marketing, the characteristics
The characteristics of strategic decision making
1) Complexity:
Strategic decisions are often complex and multifaceted and may involve multiple stakeholders, factors, and potential outcomes.
This complexity can make it challenging to maintain a clear and consistent message about the benefits of the decision over time.
2) Uncertainty:
Strategic decisions often involve a degree of uncertainty, as they are based on projections and assumptions about future trends and market conditions.
This uncertainty can make it challenging to maintain confidence in the decision over time, particularly if external factors such as changes in the market or competitive landscape impact the projected outcomes.
3) Resource constraints:
Implementing a strategic decision often requires significant resources, such as time, money, and personnel.
Limited resources can make it challenging to maintain momentum and support for the decision over time, particularly if the benefits of the decision are not immediately apparent.
4) Overcoming these challenges:
To overcome these challenges and maintain persistence in making a case for a strategic decision, it is important to:
- communicate the benefits of the decision clearly and consistently
- engage with stakeholders throughout the decision-making process
- remain flexible and adaptable in the face of uncertainty and resistance to change.
5) Planning:
Additionally, it is important to have a plan in place for implementing the decision and measuring its impact, in order to build momentum and maintain support over time.
Read more about The key factors for a good value proposition
6) Having a champion
Finally, it may be helpful to have a champion for the decision within the organization, someone who is committed to the decision and can help to maintain momentum and support over time.
Conclusion
Selling an innovation idea up the chain of command requires a combination of preparation, collaboration, data, and persistence. By following these 5 ways, you'll increase your chances of getting the support you need to bring your innovation ideas to life.
