Long‐range marketing

Abstract

Short‐termism, especially in terms of marketing strategy, is supposed to be a problem afflicting various managements. We have found that one solution may be found in separating out longer‐term robust strategies from shorter‐term corporate strategy in a formal long‐range marketing plan. Using this approach, which starts with scenario forecasting and ends with the robust strategies coming out of this being compared with existing corporate strategy. The differences are usually easily reconciled, where the two typically converge on much the same issues. As a result, organisations are better able to ensure survival in the longer term. If they follow sound marketing practices, indeed, the price they might have to pay, in terms of the short‐term steering (changes), is usually small.