Q4 - Q4 Marketing is a process explain with suitable...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Q4. Marketing is a process; explain with suitable examples and a flow chart the concept of Marketing process. Ans: Under the marketing concept, the firm must find a way to discover unfulfilled customer needs and bring to market products that satisfy those needs. The process of doing so can be modeled in a sequence of steps: 1. The situation is analyzed to identify opportunities A thorough analysis of the situation in which the firm finds itself serves as the basis for identifying opportunities to satisfy unfulfilled customer needs. In addition to identifying the customer needs, the firm must understand its own capabilities and the environment in which it is operating. The situation analysis thus can be viewed in terms an analysis of the external environment and an internal analysis of the firm itself. The external environment can be described in terms of macro- environmental factors that broadly affect many firms, and micro-environmental factors closely related to the specific situation of the firm. The situation analysis should include past, present, and future aspects. It should include a history
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 01/19/2012 for the course COMPUTER S 255 taught by Professor Sahani during the Spring '11 term at Amity University.

Page1 / 3

Q4 - Q4 Marketing is a process explain with suitable...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online