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Mmi marketing intro
- 1. Marketing and Communication in Media Body of knowledge
- 6. Marketing Process Evaluate the effectiveness of your marketing strategy Create a marketing plan Analyze market opportunities Develop a marketing strategy Put your marketing strategy into action
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- MARKETING PROCESS Within an organization, the marketing process begins at the strategic planning level and then moves to the planning and implementation stages in each area of the company. Analyze market opportunities - Identify target customers, understand their needs, and know your competition Develop a marketing strategy - Brainstorm new product ideas; define their competitive edge (that is, the main reasons customers should buy your products instead of your competitors'), and test-market your ideas Create a marketing plan - Decide how you'll position, price, and promote a product; which distribution channels you'll use, etc Put your marketing strategy into action - Prepare for surprises and disappointments and incorporate feedback and controls into the implementation process. Evaluate the effectiveness of your marketing strategy - Adjust it accordingly.