Role of Marketing in Business Turnaround

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Turnaround Management > Best Practices > Role of Marketing in Business Turnaround

Role of Marketing in Business Turnaround
Bonga Yam, Student (MBA), South Africa, Member
What is the role that marketers can play in the turnaround of a business? Thanks for your ideas. (...) Read more? Sign up for free
 

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Marketing Role in Turnaround Management
Ahmed, Consultant, Kuwait, Member
In business, marketing plays a crucial role. That is why one area to be checked in turnaround is marketing, where by products & services, market communications, positioning and sales channel are examined and reviewed. Nobody could perform this task better than a marketer.
Also in modern organizations, marketing leads the process of organization introduction to the market. In TM this could be a re-introduction.
 

 
Often the Marketing Role in Turnaround Management is Crucial
David Lee, Business Consultant, United Kingdom, Member
I would go as far as to say that marketing is on many occasions the most critical element in business turnaround. As a member of TGBA, the turnaround specialist members of United Kingdom business advisors I and my colleagues see a wide range of companies in danger.
In many cases this has been caused by the recession with sales dropping to a below break-even level. If the company is well managed and has already cut costs where possible, the only way out of trouble is by increasing sales.
During 2011 I have developed & implemented fairly simple sales & marketing strategies that have taken 4 companies from the brink of disaster back into profit in months. In all 4 cases all that was required was a modest increase in profitable sales to lift them above break even and back into profit.
The most responsible thing to do then is ensure the company maintains a consistent, ongoing S&M strategy. Too many companies make the fatal mistake of cutting marketing in a recession, just when they need it most!
 

 
Role of Marketers in Business Turnarounds
Bagus Indarwanto, Management Consultant, Indonesia, Member
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