This all about the definition of the term related to the marketing

1. Involves conducting research and
establishing goals and objectives that
will maximize the effectiveness and
success of your overall marketing
strategy.
Strategic
Marketing Process

2. A marketing strategy is a plan where a
company or firm implements
promotional tactics with the aim to win
prospective customers over to become
customers. Some examples of
marketing strategies include promoting
brand awareness
A marketing
strategy

3. MISSION
IDENTIFICATION
SITUATION ANALYSIS
POBJECTIVE
SETTING
STEPS OF STRATEGIC MAKETING
PROCESS
Step 1 Step 2
Step 3
Step 4
MARKETING
STRATEGY
DEVELOPMENT
Step 5
STRATEGY
EVALUATION AND
CONTROL

4. The marketing process is the series of steps businesses
follow to promote their products or services to potential
customers. It involves identifying the target audience,
creating a marketing strategy, implementing the plan,
and capturing customer value.
MARKETING PROCESS OCCUR

5. Before we begin developing a marketing process, it is
essential to identify and define the mission statement of
your company. It explains the purpose of your business
and how it helps your target customers. Here, you also
mention your company's value proportions, goals, and
objectives.
State the Mission of Your Company
MISSION
IDENTIFICATION

6. Situational analysis is a process of examining a company
and its competitors on the basis of size and share of the
market, sales history including costs and profits, the use
of advertising, the nature and types of customers and
more.
Situation Analysis

7. Market share is the percent of total sales in an industry
generated by a particular company. Market share is
calculated by taking the company's sales over the period
and dividing it by the total sales of the industry over the
same period.
Situation Analysis

8. Q: How to set marketing objectives? A: Marketing
objectives should be S.M.A.R.T., meaning they are
Specific, Measurable, Achievable, Relevant, and Time-
Bound. Setting goals that meet these requirements will
help ensure that you are successful and that you fully
understand your audience and market positioning..
OJECTIVE SETTING

9. Market development is a growth strategy that involves
selling your existing products or services to a new group
of customers. It begins with market research where you:
carry out a segmentation analysis of your existing
market. shortlist those market segments which you feel
you should pursue.
MARKETING STRATEGY DEVELOPMENT

10. A segmentation strategy is a marketing concept that
refers to a company's plan for identifying each section of
its target market. Businesses develop a segmentation
strategy to appropriately categorize their customers and
choose the best niches for their products and
advertising.Feb 3, 2023
MARKETING STRATEGY DEVELOPMENT

11. 1. COST LEADERSHIP
2. DIFFRERENTIATION
3. FOCUSED
MARKETING STRATEGY BROADLY
CLASSIFIED:

12. 1. COST LEADERSHIP- The cost leadership strategy is a
business model that focuses on reducing the cost of
production and offering the lowest priced products to
outperform competitors and gain market share.
MARKETING STRATEGY BROADLY
CLASSIFIED:

13. DIFFERENTIATION- A differentiation strategy is an
approach to make your business unique and distinct from
the rest, in order to stand out from the noise and give
people a reason to choose you over others.
MARKETING STRATEGY BROADLY
CLASSIFIED:

14. FOCUSED- effort are concentrated on a relatively small
but profitable market. The development of products and
services primarily ensures that the needs and wants of
this market are addressed and that satisfaction is
provided.
MARKETING STRATEGY BROADLY
CLASSIFIED:

15. Forward integration is a business strategy
that involves expanding a company's
activities to include the direct distribution of
its products.

16. A good example of forward integration
would be a farmer who directly sells his
crops at a local grocery store rather than to a
distribution center that controls the
placement of foodstuffs to various
supermarkets.

17. Forward integration-businesses acquire or
merge with raw materials inventory or parts
suppliers in their supply chain. The
companies then own and produce these
earlier-stage inputs vs. buy them from
outside companies in the supply chain.

18. An example of backward integration might
be a bakery that purchases a wheat
processor or a wheat farm. In this scenario,
a retail supplier is purchasing one of its
manufacturers, therefore cutting out the
intermediary, and hindering competition.