5 Step Process in Marketing Marketing management is product positioning . It sets customer expectations and when you can satisfy customers beyond their expectations, they will keep coming back and buying more of your products. How many times have we read in the news that another company is closing hundreds of stores and is entrenched from X number of countries to Y number of countries, because they overextended? What happened? They came to “field of dreams”, approached it, built it, and thought the customers would come. We can see this most clearly in the two cases that have recently left the Vietnamese market: Baemin and Gojek.
Companies fail to explain why people should come to their stores
because they do not “ask” customers to buy their products. They do not say why a particular soft drink, car, service, or experience is c level contact list different, better, or more special. Without this results-oriented approach, a company will not have new customers, and in a short time, it will lose the customers it has. Recognition is important, but sales and profits are everything.
Competition happens every second, marketing management is not just a tool, but a “torch” that helps your business shine among neighboring competitors. To dominate the market, you need to master the following 5-step process:
Five Steps in Marketing Management
Research and explore the market
This is the first and most important step, which involves gathering and analyzing information about the market, competitors, and potential customers. The goal is to understand customer needs and wants, as well as current market trends.
Determine marketing goals
Based on the results of market research, businesses will determine specific goals for their marketing strategy. These goals need to be why security cameras are crucial for construction sites clear, measurable, achievable, realistic and time-bound (SMART).
Develop a marketing strategy
Now it’s time to plan your battle! Identify your market segment, position your product prominently, and choose the right clean email marketing tools to attract customers. A solid strategy will help you stand out from the crowd.
Implement marketing plan
This is the stage where the plan is turned into action. The business will implement marketing activities such as advertising, promotion, public relations, and sales to reach and interact with target customers.
