Fewer than one in ten UK manufacturers have the marketing skills to compete with world-class companies, consultancy Insight Strategic Marketing warned this week.
Manufacturers spend too much time developing products and not enough time working out who will buy them or why, said ISM director Franco Degan.
Under 10% of UK companies are capable of growing into world-class businesses because of lack of marketing skill, the report says.
Insight’s survey, entitled Thirty five Marketing Mistakes to Avoid, identifies the most common errors. These include failing to understand what the market wants, focusing too much on competing on price, and failing to build strong relationships with customers.
The Institute for Manufacturing said that UK firms’ marketing strategies were sometimes patchy. IFM director Liz Amos said: `You would have to look at it more seriously to say that our performance was any worse than anyone else’s.’