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What are Marketing Decisions?
When designing a marketing plan or revising the existing one to focus on the business model that an organization is based on, marketing decisions need to be taken after weighing the pros and cons prevailing in a respective niche. The four categories in which a marketing decision is heavily reliant on our product, price, place, and promotion.
The 5 crucial marketing decisions
- Defining and setting marketing objectives is something that marketing managers need to pay heed to, act smart and come up with
- Strategizing is the next key job where marketing managers chart out the ways to march towards the objective
- Extensive research needs to be conducted so that the right marketing scope can be identified and the most popular business model that can be used here is SWOT analysis. From identifying the target audience to planning as to how to blanket the market segment, the job of marketing managers becomes very insightful!
- Company goals and missions that characterize its growth chart are instrumental in offering that edge to any marketing plan. Organizational targets are the motivating factors that make marketing managers to be on their toes.
- Marketing mix decisions are very difficult to make related to product, price, place, and promotion. Marketing managers need to come clean in this regard!
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