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Kevin Johnson
on Nov 20, 2024

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What is the third step in the marketing planning process?

A) define the business mission
B) identify and evaluate opportunities
C) evaluate using a matrix
D) implement marketing mix and allocate resources
E) perform situation analysis

Marketing Planning Process

A systematic approach to identifying opportunities, defining objectives, and developing strategies and plans to market products or services successfully.

Marketing Mix

The combination of factors that can be controlled by a company to influence consumers to purchase its products, often summarized as the four Ps: product, price, place, and promotion.

Evaluate Using a Matrix

A method of assessment involving the organization of factors or options in a grid to aid in decision-making and analysis.

  • Comprehend the methodology and value of evaluating marketing strategies and performance outcomes.
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