Question

Marketing agility is the ability to quickly assess market trends, make rapid business decisions and reduce the waste by removing uncertainty. Agile marketing is the formal approach through which these ideas are brought into existence.

Introduce the concept of Marketing Agility, tools that support it as the Agile Model, with examples for a company or two which successfully reaped the fruit of this agility.

Answer 1

The concept of marketing agility has been immensely growing past decades where the focus here is how marketers structure thier firms in such way that it achieves speed at a faster rate by optimizing the market shift quickly, get the change in support for sales teams & to address the consumer expectations before the competition. The marketing agility was often confused with the speed whereas many market specialists have clearly differentiated this concept of speed & being agile in clear terms. Speed is something that does the repetitive tasks at a faster rate whereas agility is where there is engagement with the environment to sense and respond fast to stimuli to drive the best possible result. So as per this concept, the marketing agility has emerged to counter the marketing issues and stay ahead with the competition.

Agility in marketing in today's context is an addition to the above made by various research firms like Mckinsey, Deloitte & so on which the states the following changes that have been developed towards it:

• As per thier report & concept attached the agility in a marketing context is means of using data & analytics is such way that generates the continuous source of promising opportunities with solutions to problems in real-time.
• Deploying tests quickly by evaluating results & rapidly iterating the overall process to get the scale of high functioning agile marketing that manages the many campaigns at a time with multiple ideas on board every week
• As per the research made this firm many marketing firms have achieved the agility because they have adapted certain principles on it as test & learn to reliance on cross-functional teams, but these reap only partial benefits. For instance- marketing efforts are not having support from other departments like IT, finance & legal to which the approvals for such back end dependencies with spending allocations are very slow to which alignment of such is very slow & that affect the firm's agility.

- Following are the tools that have been used to create the agile model & examples of the firms that reaped using it is explained below:

• Many firms in today's context used agile model tools to make their marketing agile to fit in any situation that comes beforehand & manage the complexities at all levels at a faster means. To illustrate- companies like Microsft, achieved the agility by using tools such as strategic agility principles that involve external focus analysis, unifying the leadership, adopting flexible people & culture, & making the shift to live flexible IT & processes. In addition to it, the firm incorporated tools like identifying, analyzing, mobilizing & operationalize that created the systems & processes in such a way that made them achieve the marketing agility & overall agility at all levels.
• There are many small & medium-size enterprises that are also involved in making themselves marketing agile by using the principles & tools that process them stand to hold the position in the market by making the business better organized to meet the marketable demands. The marketing agility into SMB's or MSME 's has really helped the business to speed up thier product & service development in such a way that meet the consumer demands at all levels. Adopting IT infrastructures, administrators & mechanisms to use has really shifted the market trends of such MSME's business to achieve flexibility in overall methods & process, competitiveness, revenue streams & overall business agility.
• Here the companies into IT -Tech firms, processes & functionality have also tremendously involved themselves in using much marketing agility tools that are market-driven, innovative in process of control such as Extreme programming, data-driven management of technologies, lean development systems, integrated management information systems Softwares & packages, adding data & business analytics & so on has made such firms to achieve not just the marketing agility but also agility of business as well holistically.

Thus, there are many firms in today's competitive business & the growing world has focused on achieving not just the marketing agility but also get the overall agile to be the survival of fittest among global players in the market. Adapting, adjusting, & adopting to new mechanisms of innovating procedures & processes has really transformed the functionality of managing a business in every sector at all levels to achieve the agility holistically.