Meaning of marketing process

Marketing process (marketing management process) is a process system for effectively proposing, implementing, and evaluating

marketing strategies

. It was proposed by American management scholar

Philip Kotler

.

In the marketing process, the process from planning to execution of marketing strategy is divided into five processes and systematized as a series of steps.

5 processes of marketing process

1. Research and Analysis First, we will conduct a research and analysis of the current situation. In addition, it is necessary to comprehensively consider the overall market, competitive situation, as well as political and natural environmental conditions. Typical examples include
   
   PEST analysis
   
   , VRIO analysis,
   
   3C analysis
   
   , and
   
   SWOT analysis
   
   .

1. Market segmentation analysis (
   
   STP strategy
   
   ) clearly determine the target market for marketing. This process is further divided into three processes:
   
   segmentation
   
   ,
   
   targeting
   
   , and
   
   positioning
   
   , each of which is called the STP strategy.

1. Specification of marketing strategy (4P analysis) In order to actually generate benefits in the market set in the clarification, we will develop a specific marketing strategy from the four perspectives of product, price, distribution, and sales promotion. The method of combining these four perspectives to formulate an effective strategy is called 4P analysis, which is an acronym for each perspective, and is also known as the marketing mix.

1. Execution Plan and implement concrete marketing strategies.

1. Marketing evaluation Evaluate the effectiveness of the marketing you have actually implemented. This makes it easier to use your insights to create your next marketing strategy.

The evaluation of one method is completed by completing one rotation of these five processes. In actual marketing, by repeating this cycle many times, it is possible to make improvements based on the evaluation results and develop a more powerful marketing strategy.

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