Marketing - Processes

• Marketing Processes

  (SMEIDI)

  • Situational Analysis
  • Market Research
  • Establishment Marketing Objectives
  • Identify the Target Market
  • Developing Marketing Strategies
  • Implement, Monitoring and Controlling
• Situational Analysis

  • SWOT Analysis
  • PLC
• Market Research

  • Determine what information is needed
  • Collect data
  • Analyse date
• Establish Marketing Objectives

  This includes:

  • improving market share
  • Expanding product range
  • maximise customer service to build repeated customers
• Identify the Target Market

  • Mass Market Approach
  • Market Segment Approach
  • Niche Market Approach
• Developing Market Strategies

  • Marketing strategies needs to appeal to the businesses target market
• Implement, Monitoring and Controlling

  • Develop a Financial Forecast
  • Compare Actual and Planned Results
  • Revise the Marketing Strategy