what steps can marketers take to reduce bad variability?
Marketers can takes following steps to reduce bad variability:
1. Bring accuracy in forecasting of demand
It will help to correctly estimate the demand that can be properly reflected by the actual sales taking place by the company. So, negative variability in revenue collection and business development is reduced.
2. Build customized messaging as a part of marketing communication after the proper segmentation of the market
Messages used in marketing communication and PR exercise, must be customized that suits to the audience and they respond to the communication made by the marketers.
3. Listen, follow and adapt to the latest trends and preferences exhibited by the market
Marketers cannot rely upon what happened in the past as well as what they think is better. Rather, it is the understanding of the latest trends going on in the market and people going for it, that gives signals to marketers to respond and adapt. Accordingly, new products are launched or existing products are re-branded so that they achieve the expected targets and negative variability is reduced.
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