The marketing process is a process or step of analysing the chances that are open in the market, choosing the target market, and the enhancing of the marketing mix, strategies, and also the management of the marketing efforts. The list below is several steps that are existed in the marketing process:
Analyse the chances in market
The first element of the marketing process is that analysing the chances in the market. This is a step where the marketer try to find the available chances for its products to be marketed here in the market. These chances will closely linked with the wishes and desires of the customers that are not appropriately satisfied with the products that are offered by the competitors. Commonly, companies that are engaging in marketing process will focus on the chances that will bring advantageous in the long run, thus it will lead the marketer to improve its efficiency. To achieve this purpose, the marketer will be helped by marketing information system in which plays an essential role in providing such a useful information regarding the market.
Furthermore, the marketer also should conduct effective market research that could show him valuable information such as information in regard to customers, competitors, common trend and et cetera. Then, the marketer should select the targeted customers based on those above information that the marketer gets from the marketing information system and from its own market research.
The second element of the marketing process is that selecting the target market. This step is the most essential step in the marketing process where the company or the marketer select the targeted customers. To achieve this marketing process the marketer should do careful analysis where the company select the final targeted customers. There are three steps that the marketer should follow in completing this process, they are market segmentation, market targeting and market positioning.
The third steps of the marketing process is the enhancement of marketing mix. Here the marketers will compose particular formulas of markets that are combined together by the company to get specific desired response of the targeted segment. These marketing mix is composed by the following 4Ps which are products, price, place and promotion.
The final steps of the marketing process is management of marketing efforts. There are four marketing efforts that are being used here. They are analysis of the market, marketing planning, marketing implementation and marketing control. All in all, the above explanation is the four of marketing process that should be done by every marketers or companies.