The marketing process indeed includes decisions about the best way to get the product to the consumer. Therefore, it is TRUE
The marketing process refers to a comprehensive plan that shows how a company can executive its marketing strategies. The detailed plan is often in line with the goals of the organization.
<h2>Further Explanation</h2>
The marketing process also involves a process in which an organization creates values for its customers towards meeting their needs.
The marketing process can be a means to interact with customers and can provide some clues for the organization on what should be done or what value should be created to meet up with the requirements of their customers.
In the marketing process, situations are evaluated to figure out opportunities, the strategy to be used to create value, the strategies are executed, and the reactions and actions of customers are closely monitored.
The four steps involved in the marketing process include:
- Situation analysis: This involves analyzing the situation of the company and identifying how to meet the requirement of unfulfilled customers. Situational analysis is meant to identify marketing options
- Marketing strategy: This involves coming up with strategies to execute the identified marketing option.
- Marketing Mix decision: This stage involves making decisions with respect to product price, distribution, and promotion.
- Implementation and control: at this stage, the strategies of the organization are executed and the market is being monitored to identify any changes and make necessary adjustment.
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KEYWORDS:
- marketing mix
- decision making
- marketing process
- market control
- situational analysis
