Strategic Marketing Profit Impact Marketing: Term Paper

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In short, it might be difficult for a small firm to incorporate all of this various evidence from such a large, industry-wide perspective, and to take into consideration the various global implications of even a niche market upon the firm's future strategies. Sometimes, focusing on small improvements might be the more feasible strategy in the short run.

PIMS strengths and weakness is its far-reaching, ambitious, and all encompassing perspective. However, even as more and more firms jockey for position in a market of increased global competitiveness, PIMS continues to be used to evaluate current businesses' market positions because it offers some aid in providing the ability to predict the future when confronted with a seemingly dizzying array of possible strategies, grounded in data analysis from like companies within a similar industry.

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Also, although the applicability of the strategy may vary somewhat from industry to industry, all from various consumer, industrial and service can benefit from comparing their profit rates and likelihood of benefiting from changing various elements of the current strategic plan. Thus, PIMS is no perfect solution, merely a guide, or as one of its advocates stated, a way of asking the "right questions," and highlighting what further areas of research may need to be explored before deciding what is the best way of reaching the firm's future goals. (Smock, 2006)

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