Final answer:
To be successful during electoral volatility, a political party must balance forming wide coalitions, adapting strategies to current voter preferences, targeting active voters, and fundraising effectively. Critical elections demonstrate the impact of addressing broad socio-economic groups, and although third-party success is challenging, it contributes to shifts in political allegiance.
Step-by-step explanation:
In a climate of electoral volatility, a political party can achieve success by building coalitions of voter support that are neither too narrow nor too broad, aiming to appeal to a moderate majority while also mobilizing loyal bases. Campaign strategy, adjustment to public mood, targeting likely voters, and successful fundraising are crucial components. Additionally, understanding the party-in-the-electorate dynamics is vital, where fostering voter loyalty can insulate a party against systemic changes and improve electoral performance. Moreover, local election laws can significantly influence party success, as they may either aid or impede a candidate's entry into elections.
Historically, critical elections, such as Roosevelt's victory in 1932, have shown that when a party addresses the socio-economic preferences of a broad electorate, significant and enduring shifts in voter allegiances can occur. However, third parties often struggle to compete due to the challenges posed by existing two-party systems, though they sometimes influence the shifting of loyalties within the electorate. A nuanced approach that adapts to changing voter demographics and preferences, combined with robust organization and resource accumulation, is key to a party's success in a time of electoral volatility.