Marketing: The Marketing Process
Name: Noura M
English 2, Group 120
Instructor: Alaeddin Halawani
May 23, 2011
In every firm which has to market a product or a service should consider a few steps in the market process. The first step is situation analysis, where a firm should know the consumer’s needs, analyze the external environment of the firm, and analyze the internal of capabilities and sustainability. Step two is marketing strategy, here the consumer’s needs are known, so the firm now should develop a marketing strategy. Third, Mix decisions, this step has four main factors: Product, Place, Promotion, and Price. The fourth step is implementation and control, here the firm launched the product and the plan has been developed. Situation analysis, Marketing strategy, Mix decisions, and implementation and control are the most important four steps in marketing process. The purpose of writing this term paper to explain to the reader how to a company use these steps to market a product. The conclusion reached is that every step in the marketing process is very important for a firm to achieve its goals.
What makes marketing an important component for every organization? When an organization want to market for a product or a service it should conceder a few steps in the marketing process. In situation analysis firms so know two important things, first knowing the consumers wants and needs, second analyze the external environment of the firm, and analyze the internal of capabilities, capacity and sustainability. Step two is marketing strategy, when consumer needs and wants are known the firm tries to develop a marketing strategy by searching for specific information to select the target market segment. Third, Mix decisions are four main factors: product, Price, promotion, and place. Last step are implementation and control, at this step the firm lunched the product and the plan has been developed. Situation analysis, marketing strategy, marketing mix decisions, and implementation and control are the most important four steps in marketing process. The first step is situation analysis where firms will identify the consumer needs and wants, and in order to do that the firm first should know their externals and internals status and they are customers, market surroundings, and the company capability. As (Matt, 2010) wrote “A good situation analysis can often detect opportunities to fulfill an unsatisfied demand, giving the company an advantage over its competition”. Farther more the best analysis for a firm is 5C analysis, where the firm analyzes the company, collaborators, customers, competitors, and climate or context. When we are talking about the company, the firm should know their product line, their image in the market, the technology they want to use and employee’s experience, culture, and the company goals. Furthermore, firms should know everything about the collaborators in the company distributors, suppliers, and alliances. In the customers analysis the firm will analyze the market size and growth, the market segments, what are the benefits that consumers are seeking if it was touchable or nonphysical. Moreover the firm should know the motivation behind purchase, and from where consumers purchase the product, also from where consumers take their information about the product. Consumers styles - how consumer needs and tastes change over time. In addition, when the firm comes to analyze competitors it should acknowledge about existent competitors and the possible competitors in the future. Also it is very important to know about the competitor’s products, what kind of products they make and how they advertise them. Analyze what the competitors positioning in the market, last but not least knowing the competitors strengths and weaknesses. The last C5 Analysis is climate or (context). There are four factors for a company climate,...
References: Levinson. C. J. (2005), the process of marketing, web source, Retrieved 2. May.2011, from http://www.web-source.net/
Matt, (Mar 11, 2010), the four steps marketing process, all about economics on the web, Retrieved 2. May.2011, from http://www.sayeconomy.com
Rudelius. H. K. (2011), Marketing, NY: McGraw-Hill
Viardot. E. (2004), Successful marketing strategy for high-tech firms, Boston, Mass: Artech House, https://mylibrary.qu.edu.qa
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