Marketing Process 3: Preparing an Integrated Marketing Plan and Program

Goal
Develop marketing plans and programs- a marketing mix- that will deliver the intended customer value
4 P’s of Marketing
Product
Price
Promotion
Place
Product
What do potential customers need and want

Variety, quality, design, packaging, features

Price
How much should the business ask them to pay; how much are customers willing to pay

list price, discounts, credit terms, payment period

Promotion
Communicate the existence of the offering to the potential customers and persuade them of its merit

advertising, personal selling, sales promotion, public relations

Place
How a business gets the product to the customer

Channels, coverage, assortment, locations, inventory, transportation, logistics

Positioning
Arranging for a product to occupy a clear and desirable place in the minds of the customer relative to competing products
Marketing Analysis
The process of developing company-wide marketing strategies and plans

1) Planning- develop strategic plans
2) Implementation- carrying out the plans
3) Control- measuring the results and taking corrective action to improve future performance