Following are the steps of marketing:
Determination of Organisational Objectives
these objectives provide direction for all phases of the organization and serve as the standard in evaluating the performance
Assessing Organisational Resources
By evaluating these resources, organizations can pinpoint their strengths and weaknesses. Strengths help organizations set objectives, develop plans for meeting objectives and take advantage of marketing opportunities.
Evaluating Risks and Opportunities
Environmental factors-competitive, political, legal, economic, technological and social-also influence marketing opportunities. The emergence of new technologies or the innovation may open new opportunities for under-marketed products.
Marketing Strategy
The marketing strategy is the overall company program for selecting a particular target market and then satisfying consumers in that segment.
Implementing and Monitoring Marketing Plans
At every step of the marketing planning process, marketing managers use feedback to monitor and adopt strategies when actual performance fails to match the exceptions.
Determination of Organisational Objectives
these objectives provide direction for all phases of the organization and serve as the standard in evaluating the performance
Assessing Organisational Resources
By evaluating these resources, organizations can pinpoint their strengths and weaknesses. Strengths help organizations set objectives, develop plans for meeting objectives and take advantage of marketing opportunities.
Evaluating Risks and Opportunities
Environmental factors-competitive, political, legal, economic, technological and social-also influence marketing opportunities. The emergence of new technologies or the innovation may open new opportunities for under-marketed products.
Marketing Strategy
The marketing strategy is the overall company program for selecting a particular target market and then satisfying consumers in that segment.
Implementing and Monitoring Marketing Plans
At every step of the marketing planning process, marketing managers use feedback to monitor and adopt strategies when actual performance fails to match the exceptions.
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