The Marketing Process

•Analyzing marketing opportunities
•Selecting target markets
•Developing the marketing mix
•Managing the marketing effort


Analyzing marketing opportunities

•The strategic planning and business portfolio analysis processes help to identify and evaluate
marketing opportunities.
•The purpose of the marketing process is to help the firm plan how to capitalize on these
opportunities.

Selecting target markets

•The segmentation process divides the total market into market segments.
•Target marketing determines which segment(s) are pursued.
•The market positioning for the product is then determined.


Developing the marketing mix

•Competitor analysis guides competitive marketing strategy development.
•Strategy leads to tactics by way of the marketing mix:
The “Four Ps” – product, price, place, promotion (seller viewpoint)
The “Four Cs” – customer solution, cost, convenience, and communication (customer viewpoint)

Managing the marketing effort

•Marketing analysis
Provides information helpful in planning, implementation, and control
•Marketing planning
Strategies and tactics
•Marketing implementation
Turns plans into action
•Marketing control
Operating control
Strategic controlMarketing audit