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What is Marketing Process?
Marketing Process is a method that is used by companies to discover the needs of their customers and understand their requirements in order to create products which can satisfy them. It comprises of as many as 6 important stages – execution, programming, allocating of funds, research and analysis, creating marketing plans, formulating strategies and lastly, supervision and auditing.
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Why it matters a lot?
In an increasingly competitive global business scenario, this process matters a lot. It is important for understanding the needs of customers and creating products that fit their demands. It is integral to the success of marketing and the overall profitability of business ventures. This process includes various stages in a sequential pattern. Each of these stages can contribute to the development and execution of the entire marketing plan. Business Analyst and Marketing Systems Analyst are two careers integrally related to this process.
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