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Why is marketing inherently risky? What kinds of risks are involved in engaging in marketing?

Why is marketing inherently risky? What kinds of risks are involved in engaging in marketing?

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Marketing is inherently very risky because of the fact that it is hard to determine the needs of the consumers as what are the reasons that a consumer might like a particular product and what not as sometimes it can lead towards complete failure of the product.

Risks involved in engaging marketing are:

1. Most marketing decisions can lead towards sucess or failure.

2. If market research is not done properly , then the strategy based on the result could backfire.

3. It is a sunk cost and therefore any failure will not be able to help recover the amount of money spend on advertising.

4. Paid promotion , if not making impact can backfire greatly as the product can be percieved in a different way then what it was promoted to be.

5. Advertisements can ruin the product , if not attractive enough for the target segment and eventually the brand name.

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