Question

Explain why it is important for an organization to formulate a product marketing strategy that includes cash flow and income projections. Discuss potential issues that a business can encounter if the marketing team has not adequately researched and constructed marketing strategies. Provide an example to illustrate your ideas. In replies to peers, discuss whether you agree or disagree with the ideas presented.

Answer 1

It is very important for a business to formulate marketing strategy before a product is launched so that consumers can get the knowledge about the product features. The cashflow projection are very important for a business. The successful businesses formulate cashflow statements and income projection to identify whether the product launch is beneficial for a company or not.

Step-by-step explanation:

If a business launches a product without proper marketing strategy then it is very likely that the product may fail. The research before the product launch is important for successful launch of a product. For example if a soap manufacturing company decides to launch a shampoo then the research is important which specifications are required by the customers in the shampoo. The marketing team should conduct interviews with the consumers in the super market to identify which shampoo variant they prefer to use. This research will help the business to form the shampoo that is most demanded and profits may rise.