Each Expert & Professional identifies from practice that Marketing is an expanse of different Losses & Risks and whirling in this sea is very hazardous deprived of having a general hypothetical way to deal with risk Management & legitimate identification of Risk recognition, quantitative assessment, and monetary & the estimation of economic Charge method (Chaffey, 2017). If the quote mentioned above stays right that managing risk in a better way, may decrease the expense level and save the beneficial items & resources for the organization up to 15% to 20 %, so it is a good action to manage risk in a good way. Then, the estimates for marketing, which is looking for new methods to promote goods and services, should then preferably increase.

Nevertheless, the converse of the medal indicates that the study of integrated risk mitigation demands a higher level of expertise as well as a significant financial investment (Aven, 2016). Numerous difficulties are performed in the market which is related to marketing, Issues are dealt with using standard procedures in other areas of activity but need novel methodological concepts in marketing (Aleksandras Vytautas Rutkauskas, 2010). Another perception of marketing risk and efficiency management is that these two terms are perceived as multi-objective issues, and the technique for dealing with such issues in several connected disciplines of economic investigation is appropriately provided (Agyemang, 2017).

With the passage of time, the modern environment, product life cycles have shrunk; trademarks have multiplied; advertising campaigns have become less successful; and the conventional mass media have lost their luster (Hanlon, 2019). Numerous previous works highlight that "Marketing is creating and executing a strategy for achieving the objectives of people and organizations through exchanging ideas, commodities, and services.". "Marketing is a function of an organization that encompasses a set of procedures for the production, promotion, and delivery of consumer values on the basis of management of connections with consumers, resulting in the business bearing risks and advantages," Read the amended version of the statement (Sainchuk, 2019).

The advancements are fundamental circumstances for the big business maintainable turn of events. marketing strategy is the significant component of guarantees dissemination of development. The motivation behind marketing strategy is to direct the market to investigate, fragment the market, foster a marketing approach, right item portfolio lastly marketing plan. The marketing investigation for marketing strategy empowers undertakings to go past the exclusive comprehension of clients’ needs, in this manner empowering them to foster surprising developments. Consequently, there seems to be a significant danger to brand notoriety, reputation, good user interaction, and affiliations created as part of the marketing intellection with other businesses and organizations (Furrer, 2014). This extension of the marketing idea to integrate both strategic and operational decisions has resulted in a conflation of marketing risk and strategic management. Managers throughout the world recognize the growing necessity of developing marketing strategies to compete effectively in global marketplaces. The global impression of the brand recognition exhibited via the commodities keeps threatening both online and offline marketing approaches (Hanlon, 2019). Due to a lack of proper strategic standards, advertisements frequently encounter difficulties (Chaffey & Smith, 2017).

Numerous researchers have stated the market risks and explained different aspects of risk that impact the implementation of marketing strategies. As mentioned, marketing risk might be the result of failures in case of failing any market activities which create losses, from the stage of creation till the end of the promotion (Agyemang, 2017). It may perhaps consist of different things, some examples are given below: 

·         Estimated the price of the product under or higher or incorrectly.

·         The medium of the promotion to the selected target market is wrong.

·         A delay may occur in the destruction or availability of the market.

·         Negative campaign or feedback from customers.

·         The high level of the employee in the company, cause a delay in the production batch.

·         The consecutive change in the business structure.

These are some of the main reasons for implantation of the marketing strategies, which basis for the creation of marketing risk. But it is also very important to manage that risk. Need to adopt and develop risk management tools to avoid some of the risks (Aleksandras Vytautas Rutkauskas, 2010). There are many more models, however, this is deprived to give you the feeling that at some random time, Marketing divisions are in issues for any of these kinds of issues, which can prompt financial loss and can be destructive for an organization's image. It is very important that management needs to highlight and marks the possible risks. Marketing initiatives must include marketing risk as a necessary component. Nonetheless, many hazards may be reduced and managed with the right marketing approaches to risk management. Furthermore, marketing strategic planning helps make sure that such a marketing division has solid fallback procedures in place to prevent financial loss. The method involves identifying possible threats in marketing strategies and outlining methods to mitigate such risks, when practical, is known as marketing risk management, (Furrer, 2014). 

The presented study was designed to assess numerous risks relating to the application of marketing practices. The study is oriented around how marketing strategy implementation affects the different related aspects, like consumer perception towards brands by implementing the marketing strategies and different approaches to them.  Marketing strategists appear to have given more importance to this topic of marketing Risk, according to the literature on marketing risk (Dessart, Veloutsou, & Morgan-Thomas, 2015), especially considering social perspective research. The Marketing Science Institute (MSI), a global organization focused on research, has highlighted the relationship between marketing techniques in the context of business and how they directly affect consumers. This includes sustaining the customer's attention, (Islam & Rehman, 2016). Researchers have identified this problem as a key influencer of marketing strategy and decision-making, (Sprott, Czellar, & Spangenberg, 2009). If consumers are satisfied, they respond favorably by demonstrating loyalty, trust, and commitment (Clemes, & Dean, 2017). Marketing has several risks associated with it, which can have unprecedented or unwanted consequences. The work highlights the perceptions over in what way to plan, introduce and cater the strategies relating to marketing risk in order to regulate the potential threat that is obligated to them. These often admit a shift in consumer acceptance and distinctions of opinion that preclude the intended consequences from having the desired long-term effects on the general populace. In order to adhere to the shifting societal viewpoints, the 4Ps must reaffirm the company's brand and the risk before and during the administration.

To stay in front line and advance amongst the rivalry, utilizing these types of marketing tools has really become indispensable in order to succeed with rival companies, advance overall organizational advancement, and integrate and align with altering societal strategies and beliefs (Camilleri, 2018). The existence of processes fundamentally, which is investigated as a discipline that specifies how well the exchanging connection is conducted, constitutes the largest hazard to marketing tactics. Likewise, the hazard grows when marketing strategies are used that ultimately give great credence to forensic proof for people, growing pressure for the goods or services being sold to remain relevant dependent on the narrator's attentiveness, attitude, and scheduling (Kotabe & Helsen, 2020).

As per the conducted work of Fuciu & Dumitrescu, (2018) illustrates the potential difficulties it's a technique may be caused to the businesses. Analyses the earlier paradigm of marketing that was "yet another size appears to fit all" to somehow be inconsistent with both the immediate concerns. The line of research is in advocate of considering and valuing the views of various communities while drawing distinct lines that classify enterprise customers who shared common traits and habits. The danger has increased since the introduction of digital marketing since social media platforms have made it easier to communicate and distribute material quickly. Even yet, this serves as a captivating element to hold the audience's interest. However, any marketing strategy, whether it involves news, posts, images, videos, or cooperation, should be tailored to the unique identities’ demographic might laid risk associated with brand (Herhausen et al, 2020). Comparable applies to advertising techniques, where even the target peoples must be carefully considered when a product is distributed and exhibited. (Furrer, 2014). 

In order to identify marketing risks, one must first identify market risks and then devise a strategy for managing them. When it comes to marketing hazards and their research, Greene's 1969 article work merit particular consideration in this regard. Business risk research is almost inseparable from marketing risk research. This approach for integrated risk management in business, proposed Miller (1992), has been seen as a trend toward setting a platform market risk obtainable of the commonality of all risks, consist of intercontinental corporate risk. A retail trade company's marketing risks and the elements that influence them are shown in Table 1, along with layers for evaluating the risk index.

According to Zhang et al. (2008), and other studies on marketing risks, this research is limited to rating several forms of risk (potential harm created) according to specified parameters which incorporates interest rate risk, equity risk, commodity risk, and currency risk. Although a universal quantitative assessment is often required for risk management decision-making, it also allows for the simultaneous determination of the probable damage caused to receivers.

A flow chart (Nasirzadeh et al., 2008) for marketing risk decisions is provided, describing main issues with marketing risk analysis to gather the data needed to overcome the marketing risks. This five-step analysis describes a fundamental risk concept and suggests a logic of decision-making based on the combination of menace and assurance.

Each sort of activity is subject to a variety of risks that are directly linked to the process of globalization. There are several risks associated with the marketing process, which on the one hand makes it useful in company while on the other side acting as an investment (Sabonien 2009). If we don't take it too seriously, we may claim that naming hazards that do not pertain to marketing is considerably simpler than listing every possible risk.

Risks associated with management, logistics, politics, governments, development, the ecosystem, the industry, and resources, terrorist risk is some of the hazards associated with marketing. The following are examples of investment risks; inflation, commerce, financing, taxation, circumstance, stability, and mortgage rates. The mentioned risks do have some impacts on marketing, but it is difficult to conduct a separate examination of indeed the toughest threats in marketing significant unities, laterally with efforts to establish managing reproductions, and this is unacceptable both theoretically and in reality. The techniques of complete publicizing risk investigation, which enable the hazards of risk towards be correlated with costs necessary to avert victims, partake non yet stayed created, it can be said that. The key goal and methods of boosting marketing cost efficiency are the advance of like a technique or a system which is in greater good of managing marketing risk (Aleksandras Vytautas Rutkauskas, 2010).

There are three classification of risks which are used in marketing which include buying conditions and good types. The segmentation of risk is according to six various sources of uncertainty that relate to: price uncertainty, contribution, durability, to the social acceptance, hazards relating to health, economic/financial risk and performance (Littler, 2006). The risk categorization relates to the buying conditions (familiar and unfamiliar) which differentiates between the buying product risk from three categories. The categories include experience goods, credence goods and search goods (Batra and Sinha, 2000).

The Durability risk often cites to the technical aspect and pertains to the duration for which the supplies of the product benefit, the mechanical breakdown and the timing for technology replacement. The risk concerning the maintenance costs relates to the loss of income which happen due to the breakdowns and replacement cost is termed as quality risk. The uncertainty concerning the performance concerns the product in each relevant attributes under different conditions (resistance to pets, tolerance to pesticides). The Fit category relates to the product risks does not match the needs of the consumer, desired image and the ability to maximize the benefit. It is influenced from the consumers’ heterogeneity with respect to the product benefit. Consumer’s benefit is realized only after when the product is experienced (Heiman, 2010). The hazard risks relating to health have the uncertainty quality and production conditions which are unknown. The health concerns are critical in the baby food production and products from foreign countries. The health hazard risks are found in vegetables, fruit and meat as well (Grunert, 2005).

In the world of business, every activity is subject to a variety of risks that are directly linked to the process of globalization. There are several risks associated with the marketing process, which on the one hand makes it useful in company while on the other side acting as an investment (Sabonien 2009). Numerous of the literature highlights different source and possible outcome where the market risk is possible. Among them some of them are discussed in above section. These are the risk which are directly linked with market, because in case of poor strategic management and implementation results in poor performance and out in market. The same case is with Operational risk as well, when strategies are up to mark and implemented well it shows higher performance in operationions and reduce operational risk. Political instability in the country also increases the risk in the market. In the end, all the highlighted risks have some kind of the impact on the market. From marketing perspective these are the key risk element for creating a good strategy. But here it must be remembered that these are not the only risks while evaluating the market. The mentioned risks have some bearing on marketing, but it is difficult to conduct a separate examination of the level and integration of the risk, unfluctuating the utmost significant unities, lengthwise with efforts to establish organization representations, and this is unacceptable both theoretically and in reality. 

The importance of the strategic planning and making strategies play a vital role in the development and improvement of the organization business. The consideration of the marketing strategies is not only limited to a specific field, segment, portion of target market, area, nationwide or globally. In  the present time the consideration of the marketing strategies is something like a stronger reliance on the strategical role of marketing in the organization's overall strategy, from a concentration on marketing as a functional management problem (Aleksandras Vytautas Rutkauskas, 2010). With the passage of time the marketing concept is expanding. Such expansion of the marketing and its strategies is also increasing the number of hurdles, issues and risks. Which may cause failure or loss, if good and applicable strategies are not created. Each department of the organization needs to adopt a separate strategy and operate accordingly to the guidlines, implement both tactical and long-term considerations has contributed to a synthesis of marketing and strategic managerial staff.

With modernazation and the advancement towards technology, and globally linking of the world,  highlights the importance of the marketing startegies for the survival of any business and organization in the market, there is a need for effective strategies.  Each and every manger across the world demands from the organization a good marketing strategy, for sake of getting more customers. Multinational organizations have become more cognizant about how crucial it is for the company to create marketing plans in ability to successfully contend in global marketplaces. Globalization of consumer tastes, the establishment of a more flexible global financial system, and the creation of a global trading network have all strengthened the interdependence and links among the world's markets (Furrer, 2014).

In the present age, it is considered that a company's ability to maintain itself depends on its capacity for information retrieval, the integration of systems and processes, and the usability of innovation (Medase & Barasa, 2019). Marketing strategies shows how well a company can set itself apart from competitors' products and create strong brands. Marketing tactics also show how businesses interact with customers to establish lucrative connections that improve innovative performance (Egbetokun, 2015; Hauser et al., 2006; Ren et al., 2015; Vorhies et al., 2009). When building a lasting competitive advantage and encouraging superior company performance in both home and foreign markets, marketing is often valuable, unique, and irreplaceable (Morgan et al., 2018).

It is increasingly crucial now than ever for enterprises to provision their operations due to the threats posed by the rising competition, customer involvement, and their rapidly shifting needs. Businesses need to think about constantly enhancing their design of the product and labeling, price strategies, retail locations, marketing strategies, manufacturing costs, supply planning, appropriateness, and profitability across all subsystems. (Mbizi et al., 2013).  

Promotion of any product and services is now commonly used strategy, because in current era it is essential to highlight your goods and services to attract more consumer as compared to the competitors. The role of Marketing in the cycle of business is particularly important, no one can deny the importance of the Marketing. Every organization requires advertisement because it is the act within which manufacturing processes is transitioned into monetary efficiency and operational excellence. Unexpected variables, including weather or governmental action, can cause drastic changes in risk and costs in a constantly shifting environment. These factors come from a range of global forces as brands continue to expand into a larger global market. Successful marketing depends on the capacity to identify, foresee, comprehend, and incorporate those factors into a risk management plan.

The difficult stage in the business field is to adopt effective strategy as per the requirement of the market. Like the complete set of each aspect of the business. Which fulfill and meet the internal and external requirement of organization. The barrier after developing a strategic plan is executing it to get good marketing results. In many other circumstances, even a carefully thought-out marketing plan may not always provide the desired effects. It varies on how well it is performed. As per, (Vasconcellose Sa, 1990) that somehow a strategic design will execute the appropriate things, but this will not be inexpensive if it's horribly mismanaged (things right first). An appropriate strategy will not be achieved by perfect adoption of a poorly designed one. To achieve their outstanding outcome, businesses must be both successful and efficient.

As per the theory of attitude, consumer of specific products & services may refer to support those goods which make them enable and attract their attitudes according to the marketing communication, for making of decisions, looking the benefits which is good for them and give more benefits against the market risk (Ajzen and Fishbein, 1980). Furthermore, consumers are major participants in the establishment of marketing techniques & strategies for the hotel business who could have a consequence on its business, effectiveness, and marketing strategy preparation (Tsyplakov, 2003). Individuals must determine their willingness to participate in marketing research which focuses on a cognitive, emotional, and behavioral model (Jaiswal and Kant, 2018); the consumer may change their perceptions and actions in compliance with assessment and marketing strategy (Kim et al., 2020). Several aspects remained unresolved ignoring the fact that hospitality professionals have analyzed consumer perception toward hotel marketing. The motivations, governance, and marketing of sustainable development have been investigated in several analyses of hotel marketing (Rutkauskas, 2011). Therefore, it is necessary to ascertain if an evaluation would affect consumer sentiments. Value-based pricing, the distribution channel, or the promotional strategy (Kotler and Keller, 2006) are all examples of types of products that fall within the category of marketing paradigms. As a result, we use the perceptive attitude ingredients and talk about how the hotel marketing strategy's risk, which combines exceptional excellence and marketing mix programmers, affects the customer.

  • Preferences of Consumers and product risk
  • Consumer involvement, uncertainty, and marketing risks
  • Consumer Research and risk psychology
  • Consumer perception influences marketing strategies

Study Methodology

The analysis of information or data to identify the answers to the questions we are trying to answer and the processes used to do so (Goddard and Melville, 2007). According to Remenyi et al. (1998), research technique is a certain backdrop that an investigator uses when doing research. When choosing a precise technique, the difficulty in gathering data is not as important as the objectives of the study, which favor one approach over another, (Goertz and Mahoney, 2012). The quantitative research approach is used in the field of research by, (Gordon and Langmaid, 1988), and this is justifiable given the size of the issue under investigation and the need to infer causality among the variables. Instead of asking "what" questioning, qualitative research examinations might generate cavernous sympathetic, information, and consciousness into particular circumstances or wonders (Miles and Huberman, 1994). Setting up a variety of metrics will inform the researchers of the direction in which the investigation is going (Johnson-Hunter, 2004). 

When presenting the research question that a researcher has defined and exploring the study design, it is highly recommended to establish the research philosophy that is suitable with the conduct of the research. An evaluation, (Onwuegbuzie and Leech, 2005) highlighted that there are two main models or paradigms in research philosophy. The major difference between the two is that positivist researchers utilize statistical measurements, which further simplify their findings, whereas interpretative researchers use phenomenological systems to create abstract meaning. This ongoing disagreement between the two is what makes it so effective. For understanding the theme of the topic, try to use the positivistic approach to know the impact and movement of Marketing Strategies and Risk Management. As positivists are the solitary ones that suggest cause and consequence theories around any existing marvel, then edge those philosophies into hypothecation that can be verified (McNabb, 2010). In the two approaches of research, mostly the examiner of the topic is implementing the positivist method obtainable of the complete research philosophies is implemented. Several investigators, (Saunders, 2003) define different structures of philosophy for claims. (Tsyplakov, 2003) aimed at illuminating the study philosophy derived up lengthwise with two philosophy paradigm procedures that are positivist and phenomenological models.

The design of the research is related to the way of conducting work, and how to conduct the research, research can be viewed as descriptive, exploratory or explanatory, (Richey and Klein, 2007). For a project the research design is descriptive and explanatory is in that case when developing the hypotheses to understand the impact of the selected variables. As per, (Saunders, 2003) specifies study. that,  explanatory examination emphasizes whys and wherefores and clarifications of procedures. (Furrer, 2014) functional the same explanatory investigation, the way creates an association midst the variables and enlightened the question of ‘what’ among the two variables. 

Data collection is the most important portion of the research work. As per the work of, (Bamberger, 2000), derived from work that Qualitative research measures are changeable and shapeless. The capability to gather unambiguous and relaxed to sum answers is the forte of the structured questionnaire, and it is important to shift qualitative data into quantitative information for the purpose of results & examination, (Bowling and Ebrahim, 2005). Also “Organized questionnaires are modest to administer and comparatively reasonable to analyze.” (Kothari 2004, p.102). Consequently, a systematic predetermined questionnaire research approach will be practical with self-explanatory stated answers in order for the study to be carried out. As a result, the study examined the genuine qualitative method or the intended population segment, (Saunders, 2003).

Non-probability distribution will comprise the approach used to choose the pertinent research participants. Consequently, the investigator used the Convenience sampling approach. Convenience sampling is perhaps the easiest method of sampling because participants are selected based on availability and willingness to take part. Useful results can be obtained, but the results are prone to significant bias, because those who volunteer to take part may be different from those who choose not to (volunteer bias), and the sample may not be representative of other characteristics, such as age or sex. The data evaluation by utilizing the thematic evaluation will aid in supplying the optimum efficiency should have a thorough knowledge of the trouble talked about. Aside from this, the meeting texts drive be implied & also motifs drive certainly be situated and acknowledged to provide key variables that contribute/enhance the risks in the direction of convinced marketing observes, maintaining the loophole facilitating the protagonist of moving social perspectives.

Discussion

The existence of the area leads is one of the constraints relating to the marketing for the consultation gatherings. The approval of the interview session is also a vital part of the organizations in which the manager, team members, and marketing leads are asked to participate. The dependability & validation to comprehend the issue immediately consequences, and facts might be utilized which is proposed. However, things have not turned out as nicely as one may have hoped. There were also practical issues, such as the failure of research users' organizations to predict demands for research early enough. The fact that brand and marketing managers utilize information other than market research data has also forced research vendors to accept this fact.  

The study intends to define and identify marketing risks and their different types. It shows how business and marketing risks are fundamentally linked. The nature of operations itself, which is examined as a discipline that describes how the exchange connection is exercised, poses the largest danger to marketing tactics. Meanwhile, the danger grows when marketing strategies are used that likewise give great weight to physical evidence for people, increasing competition for the goods or services being sold to remain relevant depending on the audience's attention, behaviors, and timing (Kotabe & Helsen, 2020). It seemed in the market when a consumer buys something, the first thing that comes to mind is the product's quality, brand, and durability. But when a marketer thinks about the market, actually they think about the customer and competitors, and after that, they try to create strategies for the market. But when a marketer creates strategies for the market, they may first think about the related risk involved with it. Whether the strategy work or not, and also whether the risk is related is manageable or not. The strategic marketing decisions are ended within a level of risks & the effective risk supervision tactic is done by acquiring as much relevant information as possible. The finding of the study confirmed that marketing strategies have a huge impact on the market and on other stakeholders like customers, suppliers, and competitors. A good market strategy may reduce the risk and avoid the loss and extra expenses, which bear the business additionally. Along with this, it is very important to implement the strategy correctly and mannerly as per market requirements. The flora of procedures the issue, which is examined as per discipline that describes in what manner the conversation connection is kept fit, is the most significant hazard that affects marketing strategies. Meanwhile, the danger grows with the adoption of a marketing mix that places a high value on tangible proof to People, increasing competition for the items or services supplied to remain relevant based on the compatibility of the audience's attention, attitude, and energy. The result of ANOVA, which is indicated with F 0.4773, a normal probability plot is used for numerical data. The normal probability highlights the normal sign of the data.