Third, Mix decisions, this step has four main factors: Product, Place, Promotion, and Price. The fourth step is implementation and control, here the firm launched the product and the plan has been developed. Situation analysis, Marketing strategy, Mix decisions, and implementation and control are the most important four steps in marketing process. The purpose of writing this term paper to explain to the reader how to a company use these steps to market a product. The conclusion reached is that every step in the marketing process is very important for a firm to achieve its locals.
What makes marketing an Important component for every organization? When an organization want to market for a product or a service It should conceder a few steps In the marketing process. In situation analysis firms so know two Important things, first knowing the consumers wants and needs, second analyze the external sustainability. Step two is marketing strategy, when consumer needs and wants are known the firm tries to develop a marketing strategy by searching for specific information to select the target market segment.
Third, Mix decisions are four main actors: product, Price, promotion, and place. Last step are implementation and control, at this step the firm lunched the product and the plan has been developed. Situation analysis, marketing strategy, marketing mix decisions, and implementation and control are the most important four steps in marketing process. The first step is situation analysis where firms will identify the consumer needs and wants, and in order to do that the firm first should know their externals and internals status and they are customers, market surroundings, and the company capability.
As (Matt, 010) wrote “A good situation analysis can often detect opportunities to fulfill an unsatisfied demand, giving the company an advantage over its competition”. Farther more the best analysis for a firm is C analysis, where the firm analyzes the company, collaborators, customers, competitors, and climate or context. When we are talking about the company, the firm should know their product line, their image in the market, the technology they want to use and employee’s experience, culture, and the company goals. Furthermore, firms should know everything about the collaborators in he company distributors, suppliers, and alliances.
In the customers analysis the firm will analyze the market size and growth, the market segments, what are the benefits that consumers are seeking if it was touchable or nonphysical. Moreover the firm should know the motivation behind purchase, and from where consumers purchase the product, also from where consumers take their information about the product. Consumers styles – how consumer needs and tastes change over time. In addition, when the firm comes to analyze competitors it should acknowledge about existent interiors and the possible competitors in the future.
Also it is very important to know about the competitor’s products, what kind of products they make and how they advertise them. Analyze what the competitors positioning in the market, last but not least knowing the competitors strengths and weaknesses. The last CO Analysis is climate or (context). There are four factors for a company climate, first political environment like governmental policies and regulation that can easily affect the market, because a firm can’t be build without a license from the government.
Second, economic environment and it is the business life in the company and other macroeconomic issues like inflation rate and interest rates. Third Social or cultural environment, that analyze the society style and trends. Fourth technological environment, the company uses new technology to make products that satisfy needs. These external climates are frequently called PEST analysis. The second step is marketing strategy; a marketing strategy determines objectives and describes the way firms would satisfy unfulfilled customers needs in their chosen markets.
Also the firm starts to develop a plan strategy. When a firm open new business or lunch new product it can’t success without a clear plan that tills what are the goals that want to be achieved. One of the firm’s goals is to make sure that the product or service meets with the consumer’s needs and the firm develops a firm has limited employees, financial, technological, and other resources available to produce a product or service, so the firm can’t produce to all people. In addition a firm must develop a strategy to help concentrate and direct its efforts to achieve its goals.
Moreover, the firm have to target market its consumers to know how many people they can satisfy their needs. The third step is marketing mix Decisions, this step has four factors, product, price, place, and promotion. A product is anything that is able to satisfy customer needs. Moreover, the concept “product” relates to physical products and services. These are some examples of the product decisions that the firm should make: brand name, function of the product, style of the product, quality, safety, packaging, repairs and support, warranty, and accessories and services.
Pricing includes not only the list price, but also discounts, financing, and other options such as leasing. Some examples of pricing decisions the firm should make are, pricing strategy, volume discount and wholesale pricing, and cash and early payment discounts. (Vibrato, 2004) wrote in his book “… A push strategy means that the different channels will promote and sell the product to the customers. A pull strategy relies on advertising and promotion directly to the customers motivating them to come and ask channels for the product”.
Furthermore the place or distribution also known as the channel means moving the good or the service from the manufacture to the users or consumers. Some examples of distribution sections that the firms should make are, distribution channels, distribution centers, order processing and transportation. Last factor is promotion. A successful product or a service can mean nothing without showing it to the target market clearly. An organization can use a plenty promotional dictions like, advertising, sales promotions, and internet marketing.
Last step is implementation and control, at this step the firm has developed the marketing plan and the product or service has been lunched to the marketing. However lunching the product or service to the consumer doesn’t mean the process ND, the firm monitoring should be maintained and continue with the process to fulfill the consumer’s consent changing needs over the long term. Small changing in the consumer needs can change the advertising message. As (Elevation, 2005) mentioned in his article “No matter how successful your attack, never lose contact with your customers.
If you do, you lose your competitive advantage over huge companies… “. So firms should always keep their eyes on the consumers needs to make them satisfied or the other competitors will do, and that will make the firm lose its consumers which leads to lose the company. In conclusion, the steps of marketing process situation analysis, marketing strategy, marketing mix decisions, and implementation and control, it is recommended too firm to use them to identify the consumer’s needs and to analyze the externals and the internal of the firm’s environment.