1. Market analysis
The first task of the marketer is to gain an understanding about the market he wishes to sell or is currently serving. This involves obtaining quantitative and behavioral data on buyers, competitors and middlemen. Specifically:
To identify the current and potential buyers of the product, their size. Location, quantities purchased. Demographic characteristics, purchase motivation, attitudes perception and preference regarding alternative products brands offered by competitors.
To determine if the total market could be segmented into sub market with unique needs, characteristics and preference.
To identify the competitive brands offered to the market and the strategies adopted to market them. In particular, to try to discover what strategies that are successful and those that are not.
To determine the types of middlemen who participate in the product distribution, their locations, functions performed and rebate received . From the above analysis, the maker is able to select the large market to cultivate, that is, the group of buyers' whom it would be most worthwhile to serve.
2. Setting goals.
Every human action is goal directed. It is important that managers of enterprises clarified that the onset the goals to be pursued so that the enterprise would not drift and get high jacked to achieve personal goals.
Marketing goals are naturally drive from the over ultimate purpose of the parent organisation and may have different time frames, ranging from long range goals or the more specific short run operational goals. We should be set for each marketing activities example sales district, salesman, e.t.c. Goals should be challenging and yet and tenable. Set goals should be made known to every employee of the organisation . Other variables on which goals may be set are sales, market share, marketing cost , profits, advertising, et e.t.c.
A goal statement could take this phone to increase sales by 10% in the next year or to increase consumers awareness of a new brand 30% in the next quarter .
3.planning The Marketing Effort.
To develop a marketing strategy, speak decision regarded the product, the price, the distribution, and promotion in order to satisfy the needs of the target market and provide the best chance for achieving the goals of the market. This marketing strategy is popularly known as marketing mix.
4 organisation .
The marketer's organisation is designed by establishing position and lines of authority, and then staff by recruiting and assigning personnel and motivating them to their best efforts. Marketing organisation maybe designed around marketing activities of functions, around product categories all along market lines.
5 execution .
To implement the marketing plan, thats must be assigned to individuals and groups, resource provided, and time schedules set for accomplishing specific results. Executing the market plan can be best appreciated when the marketing effort is launched.
6 coordinating .
Marketing activities like sales, advertising, marketing research, new products, development requires careful coordination. Additionally coordination is frequently needed between marketing and the other functional department of the marketers organisation and with outside companies.
Marketing can furnish sales forecasts that the production can be better planned, production in turn can help marketing by producing the proper quantity and quality of product at the right time and also by providing product information for sales training and advertising programs. marketing activities must be coordinated with advertising agencies, transport companies and other outside companies, facilitating the markets effort.
7 control .
Terminal results such as sales, market share cost and profits, and to take corrective actions if the target are not met.
Marketing policies.
the market are also set policies to guide his operations. A marketing policy is a specification of a course of action to be followed under a given set of circumstance usually for a recurring nature.
For example, in my factual may specify a warranty terms to cover a jewel product it will douche or a hustler may give one week for lodge others and a 2 weeks delivery time for small orders . Policies ensure uniform treatment of customers to save management's time.
