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Executive Summary: The Marketing Planning Process

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The Marketing Planning Process
Marketing planning process is in essence steps that provide instructions on how to market and sell your product in the market. It consists of informational strategies to be utilized to make your product sell. Marketing planning process consist of strategies and techniques that a business assume for accomplishing their marketing objectives within the time frame set.
The process involves a selection of the target market and establishing a plan on how the business should market the product in that precise target market to thrust, for the success of a product a good market plan is needed.
The process blends the stages in which a business plan and discuss different options for the success the product
 Determines …show more content…

Making proper documentation of your strategies is an integral part of planning process. It is the need of the time to properly plan your marketing activities and implement it in the right direction for the survival of your product in the market. In today’s market of intense competition, without proper extended and solid planning process you can’t take success in the market. Marketing planning process makes it essential for the managers to contribute some of their time towards thinking about the company’s resources and the opportunities that may gain by utilizing those resources in an effective way. In today’s era of rapid digital marketing, it is necessary to focus on proper marketing planning process to cover the maximum of the market. By applying a proper plan, we can avoid the risk of failure of product and can satisfy and fulfill the needs of the target consumers easily.
You can upgrade your sales volume and growth by choosing right marketing plan for your business. This planning process involves the specifications that how marketing objectives are to be attained. The marketing planning process structure discussed above can further be elaborated.
Marketing Planning Process Steps
The steps of marketing planning …show more content…

Evaluate the businesses current position by
 By analyzing and auditing market
 SWOT Analysis
The second step of marketing planning process includes the overview and examination of your present condition. It is a part of strategic and long term planning process to see your current position, your resources and view the market in which you are moving. Layout your resources, evaluate them along with evaluating other external and internal factors. Determine the environmental risks and favors attach with the launching of your product. Audit the market, target it and make their segments with the help of your resources to better penetrate your product.
Do SWOT Analysis of your business in which there are different internal and external factors considered. This is the best approach for viewing and analyzing your current situation. Make an inner look of your strengths and weaknesses and the other aspects affecting them.
Make an inside view of your company that whether you understand your consumer’s need, know whom you are targeting, make the market research to know about your competitors and to know about the fact that what consumer needs are fulfilled and what are the depreciation in them and how these needs changes with the passage of

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