Business Marketing.docx

Business Marketing.docx - Business Marketing Role of...

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Business Marketing Role of Marketing – To improve performance of the organization by establishing and nurturing worthwhile relationships (profitable) with customers, clients, sponsors, or other stakeholders 10 Steps for Preparing a Marketing Plan 1. Define the marketing challenge a. Is this a new business start-up or an existing business? b. What are the performance objectives? c. What decisions need to be made? 2. Identify attractive market opportunities a. What are the key implications of an environmental scan? b. What are customer needs, wants, habits? c. How can the market be segmented? d. What are the competitors doing? e. How do opportunities fit with company capabilities? 3. Select a primary target market a. Which customers are particularly attractive? b. Which customers are available? 4. Decide on the product/service offering a. What are customer perspectives on the product/service? b. How should the company differentiate from competition? 5. Decide on the distribution approach a. What channels are available and interested?
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