Marketing Process and Four Factors
Marketing Mix
1.Product Strategy 2.Price Strategy 3.Place Strategy 4.Promotional Strategy
Ability to satisfy the need
A company has the ability to satisfy a need with their product.
Need
Determine the need or create the need.
Technological Environment
How does changing technology affect a company? What opportunities may help manufacturing, packaging, marketing messages?
Competitive analysis
How strong, talented, and entrenched is the competition? Do they own the market, or are their opportunities for us?
Marketing Strategy Shortform
The 4 Ps
Economic Environment
The economic effect on marketing and sales.
Marketing
The process of planning and executing the conception, pricing, promotion, and distribution of goods and services to satisfy buyers and sellers.
Ability to communicate
the process of advertising
Three Cs Analysis
Company, competition, customer
Four Factors
Need, Ability to Satisfy the Need, Ability to Communicate, Delivery of Product Need
Social Trends
Things that are happening in society that may affect your product.
Legal/Regulatory Environment
What laws must a company know and obey?
Customer analysis
Who are the marketer's customers, and what do they need? How can the marketing fulfil those needs?
Delivery of product need
develop and deliver a product
Company analysis
the company's strengths and weaknesses, their financial situation, and their management