Process of marketing

The process of marketing involve series of steps:-

1)Understanding marketplace and consumer needs

Its include:-

• Market research:-conduct research  to understand the market including consumer needs.

• Customer analysis:-segment the market into distinct group of customer with similar needs

2) Design a customer driven marketing strategy its include:-

• Segmentation:- divide the market into  segments based on  demographics psychographics or behaviour

• Targeting

• Positioning:-define a clear and distinct image of product in targeted customer mind

• Identify unique features or benefits of products.

 

3) construct an integrated marketing program which includes product price place and promotion.

4) Building and managing a customer relationship management 

5) capturing value from customer through  customer satisfaction and loyalty.

6)Feedback and improvement