Marketing

Technical English 4

Marketing
Process which discerns consumers' wants, focusing on a product or service to fulfill those wants, attempting to move the consumers toward the products or services.
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 Marketing tends to be seen as a creative industry, which includes advertising, distribution and selling. Process of creating or directing an organization to be successful in selling a product or service that people not only desire, but are willing to buy. A marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives.

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Teacher has focussed upon the key stages of the plan. It is contained under the popular acronym AOSTC: ANALYSIS. OBJECTIVES. STRATEGIES. TACTICS. CONTROLS.

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 Stage One - Situation Analysis (and Marketing Audit). Stage Two - Set marketing objectives. Stage Three - Describe your target market Stage Four - Marketing Tactics. Stage Five - Marketing Controls.

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 Marketing audit The first formal step in the marketing planning process is that of conducting the marketing audit. The emphasis at this stage is on obtaining a complete and accurate picture. In a single organization

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In this context some factors related to the customer, which should be included in the material collected for the audit, may be: Who are the customers? What are their key characteristics? What differentiates them from other members of the population? What are their needs and wants? What do they expect the `product' to do? What are their special requirements and perceptions? What do they think of the organization and its products or services? What are their attitudes? What are their buying intentions?

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Content of the marketing plan

SMALL BUSINESS Demographics of customers Description of competitors, including the level of demand for the product or service and the strengths and weaknesses of competitors Description of the product or service, including special features Marketing budget, including the advertising and promotional plan Description of the business location, including advantages and disadvantages for marketing Pricing strategy Market Segmentation
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MEDIUM SIZE AND LARGE Executive Summary Situational Analysis Opportunities / Issue Analysis SWOT Analysis Objectives Strategy Action Programme (the operational marketing plan itself for the period under review) Financial Forecast Controls

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