marketing plan continuation

CONTINUATION OF THE TOPIC: MARKETING PLAN


STEP ONE: THE BUSINESS REVIEW WHICH TALKS ABOUT THE COMPANY AND PRODUCT REVIEW. HERE, THE DISTRIBUTION/PENETRATION IS ANALYSED(TARGET MARKET ANALYSIS, PRICING SALES AND MARKET SHARE ANALYSIS, COMPARATIVE COMPETITIVE PRODUCT AWARENESS & ATTRIBUTES ANALYSIS, THEN PURCHASE RATES AND BUYING ANALYSIS).

HENCE, THE BUSINESS REVIEW IS ALSO KNOWN AS SITUATIONAL ANALYSIS. IT IS USUALLY A GROUP EFFORT AS THE INDICES GATHERED HERE WOULD DETERMINE THE DIRECTION OF FOCI FOR THE PLAN. EACH OF THE ABOVE TOPICS ARE OBJECTIVELY REVIEWED AND IS ACTUALLY A FORM OF RESEARCH, THE WORK SHOULD BE DONE IN OUTLINE.

STEP TWO: PROBLEMS AND OPPURTUNITIES. THE PROBLEMS ARE DERIVED FROM THE WEAKNESSES OF THE COMPANY AND FROM THE ECONOMY, WHILE THE OPPURTUNITIES ARE DERIVED FROM POSITIVE CIRCUMSTANCES SUCH AS THE DIRECTION OF GROWTH OF THE ECONOMY OR POLICY THRUSTS OF THE GOVERNMENT OF THE DAY.

STEP THREE: MARKET SEGMENTATION PRINCIPLES BY INDUSTRY, BY PRODUCTION PROCESS, BY FINANCIAL MUSCLE/DECISION MAKING, BY LOCATION AND BY CONSUMPTION IS IMPORTANT IN MARKETING PLAN.




LADIES AND GENTLEMEN, THE NEXT POST WILL THROW MORE LIGHT ON THE MARKETING PLAN AS I WILL EXPLAIN STEPS 4-10. WATCH OUT AND STAY IN TOUCH.
KIND REGARDS.