Advantages of Critical Marketing
Promoting business or product is always an ultimate objective of a marketer. Critical marketing enables companies to get attention of the target audiences for specific market as well as wider market and thus provide a stronger opportunity to affect consumer’s buying decision (Adrian, 2010). Hence, focused on specific strategies either product wise or service wise, critical marketing approach help in enhancing brand promotion and recognition. Applying critical theory of marketing, effective branding results in making potential customers to recognize logo or brand and hence make them to associate in comparison with other available products or services. Improving the business profits is certainly the obvious advantage that is gained implementing marketing strategies in a critical approach.
Disadvantages of Critical Marketing
However, on the other hand costing has been considered as the major disadvantage of critical theory of marketing. Advertising and promotion for specific product or service always costs huge investment. Lack of proper research and comparison before branding could lead to the waste or loss of investment made for marketing. Competition is also another disadvantage of this approach as it is very hard and expensive to pay for a full page advertisement or through media. If a marketer don’t attempt for such promotion to stand out, it becomes competitive with other companies getting attention as well. Moreover, time is also considered as an important factor. Preparing for marketing strategies, designing advertisements, publishing, or creating campaigns take time and it becomes important to keep track of such activities in order to find out the success and effectiveness(Adrian, 2010). Thus, along with financial cost, risk of time involved has identified as the biggest disadvantage of critical approach of marketing.