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

Although the market has a clear and definite set of goals that has not changed over the centuries, the way in which these goals are achieved has changed dramatically since people began to develop a comprehensive marketing strategy. These changes are sometimes interesting, fast, and powerful. One of the latest trends in this line is the rise of "market agility" which has become a popular word in the marketing world. But as we know, not every word zz is really relevant in the end, so let’s see how “market agility ” is maintained in this.

Market Agility

However, before we can determine how market agility is affected, we need to know what these two terms mean and, in turn, understand what market agility should be.

Agility - According to the Merriam-Webster dictionary, agility means agility or, in other words, the ability to move or act quickly. If we look at production, not marketing, for example, we can say that agility production will reduce production time so that production can maintain current market demand and optimize its operations.

Marketing - Marketing is usually described as a process of anticipating and defining customer desires so that they can meet their needs.

It is easy to see that unlike production, the market has no tangible product. Therefore, agile marketing cannot be defined as the speed at which you apply marketing, but rather the speed at which you can adjust the marketing mix to achieve greater customer value. This can make the marketing maneuver relevant and practical, which is not just the handle the CEO uses to beat his marketing team.



The Difference between Marketing Agility and Agile Marketing
As already mentioned, market agility is a concept, while agile marketing is an expression of this concept. Market agility is the ability to quickly assess market trends, make quick business decisions, and reduce waste by eliminating uncertainty. Aging markets are the formal way in which these ideas are realized. It should then be clear that market agility involves significant structural changes and operations of the business, so it is interested not only in quick solutions, but also in some long-term development.

How to achieve market agility

Now let's look at some examples of how marketing agility can be promoted in a company.

Make your unit a learning organization.

The only way your business will be able to address the challenge of market agility is if it becomes agile, and the most important thing to drive is the skills of your employees and your organization as a whole. Encourage creative thinking, show the value of formal training and do not forget to reward the experts.

Introduce agile marketing assets.

Your marketing team will be able to develop an acceptable marketing solution if they are able to access agile markets, such as gift cards or visas, instead of using options that relate to certain scenarios.

Harness as much data as you can.

Big data makes it a prerequisite for making meaningful marketing decisions. Agile marketing requires you to use this data as much as possible and focus not only on your potential customers, but also on competition, industry trends, and even internal development.

As we have seen, investing your time and money in promoting this idea throughout your business can make it possible to offer fast, efficient and accurate marketing solutions. In this day and age, when the whole industry is up and down at night, the ability to make the right decisions and make quick changes can save your business.