11
The
overall
marketing
process
can
be
modeled
in
a
sequence
of
steps:
the
situation is
analyzed
to
identify
opportunities, the strategy
is
formulated
for
a
value
proposition,
tactical
decisions
are
made,
the
plan
is
implemented
and
the
results are
monitored
(netmba.com).
Situational
analysis includes
the
organization’s
capabilities,
strength,
weakness,
opportunities
and
threats
(SWOT). It also analyzes the economic and
technological forces affecting the market, and the current or potential customer in the
market.
Marketing strategy determines
the choice of target market segment, positioning,
marketing
mix,
and
allocation
of resources.
(Businessdictionary.com).
More
over,
detailed tactical decisions then are made for the controllable parameters of the marketing
mix decisions. Finally at the in implementation and control point of the process, the
marketing plan has been developed and the product has been launched (netmba.com).
Nowadays, Marketing
is
not about providing products or services it is essentially about
providing
changing
benefits
to
the
changing
needs
and
demands
of
the
customer’
(P.
Tailor 7/00).
The Marketing Process
Situation Analysis
Marketing Strategy
Marketing Mix Decisions
Implementation & Control
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