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The second stage which Is Situation Analysis or Soot Is carried out to evaluate the Strengths, Weaknesses, Opportunities and Threats to the business. Amy Handling (Demand Media) suggests In his article that Strengths and Weaknesses are Internal factors and under the firm’s control. Now talking about the third stage of Creating Market Strategy Is based on making strategies and objectives. At this stage, the objectives which the business wants and expects to achieve are decided and how the enterprise Intend achieve them. The last stage involves the Allocation of resources and monitoring hem.
Analyzing the authors’ studies, it can be clearly understood that in presence of a Strategic Market plan a business gains maximum profit. By reduction of waste, production levels increase and since, all goals are clearly stated and maximum efforts to achieve them are initiated. The increased sales turnover and production, also helps in creating strong market goodwill. Also in an article Kristin Loretta (Demand Media) talks about the importance of marketing planning in making the potential customers aware of the products.
Many aspects of Integration of business efforts, Pricing, Quality product services were there as well. By reviewing It, one can figure out that with a proper marketing planning strategy and with clearly stated objectives and goals, business efforts are Integrated and quality product services are provided to the customers. Thus marketing planning plays a significant role In business enterprises. Marketing planning By process mm Riley, September 2012)) The very first step which is the Goal Setting talks is Situation Analysis or Soot is carried out to evaluate the Strengths, Weaknesses,
Opportunities and Threats to the business. Amy Handling (Demand Media) suggests in his article that Strengths and Weaknesses are internal factors and under the firm’s Now talking about the third stage of Creating Market Strategy is business wants and expects to achieve are decided and how the enterprise intend Pricing, Quality product services were there as well. By reviewing it, one can figure and goals, business efforts are integrated and quality product services are provided to the customers.