The Marketing Planning Process

MARKETING CONCEPT:

The broad definition of marketing describes it as the combination of all activities designed to generate and facilitate any exchange intended to satisfy human needs and wants. In this case, Kumar intends to market Swift’s runner shoes to Bangladesh. For successful marketing of the product, Swift has to prepare a marketing plan which consists of various tools like the 4 P’s of marketing, target marketing, segmentation, positioning etc. The promotional mix is also formulated which consists of advertising, direct selling, sales promotion etc which helps in the promotion of the product.

The marketing principle or concept : The central idea is the ‘matching’ between a company’s capabilities and the various wants of the consumers to achieve the objectives of both parties. (McDonald, 1999). It is also defined as the philosophy of doing business that emphasizes customer orientation and coordination of marketing activities in order to achieve the organization’s goals. The management of the marketing mix consists of the various tools and techniques that are available to marketers in order to implement the marketing principle.

The marketing planning