Marketing Planning Process Stagesadmin
What is marketing
Marketing is one of the most important tools used by companies to sell their products and to enhance customer satisfaction. Companies should market their products through a continuous process until reaching the highest level of customer satisfaction. Commercial companies have realized the importance of marketing, so many of them created a special marketing department with a highly trained team.
In order to achieve the desired results and benefits from your marketing plan, you must follow a number of stages, which are:
Market research stage
Business owners in this stage study the market and everything related to the interest of customers such as their desires and preferences, the competing products and their prices, the levels of customer satisfaction, customer suggestions and feedback, and price policies. The aim of this stage is to collect information about the market and products. After completing this stage, information gathered should be analyzed with the use of experience to develop plans and goals.
Product development stage
In this stage, companies develop products to meet the desires of customers. After collecting the results of the market, companies should use these results in developing the products or services to meet the desires of customers. Moreover, companies have to examine customer’s reactions to the developed edition of the products.
In this stage, companies work hard to decide the suitable price of the product in the market in order to increase sales and meet customer expectations. This stage is a challenge for many commercial companies because it relies on market research in order to reach the highest level of customer satisfaction.
In this stage, companies work to distribute their products through marketers or through the company itself. Companies also have to decide their suitable method and time of distributing their products.
Marketing Relationship Stage
In this stage, companies work to maintain good relationships with customers and to ensure their satisfaction with the products. Furthermore, companies have to follow the suggestions and feedback of customers about the products in order to reach the highest profit.