Marketing is a special blend of art and science.
1. The marketing strategy process:
A. Consumer analysis
I. What is the need category?
II. Who is buying and who is using the product?
III. What is the buying process?
Awareness --> Information Search --> Evaluate Alternatives --> Purchase --> Evaluate
IV. Is what I'm selling a high- or low- involvement product?
V. How can I segment the market?
B. Market Analysis
C. Review of the competition and self
D. Review of the distribution channels
E. Development of a "Preliminary" Marketing Mix
F. Evaluation of the Economics
G. Revision and Extension of Steps 1-6 until a consistent plan emerges
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