Question

Explain the various steps involved in preparing a marketing plan?

Answer 1

Answer:

1.Research

2.Target in market

3.Goals & objectives

4.Strategies

5.Consumers satisfaction & needs

Answer 2

The various steps involved in preparing a marketing plan  includes the following:

• The marketing plan starts with determining the aim and objectives of the marketing venture and then conducting the environmental analysis.  
• Marketing plan involves determining the 4Ps of marketing – Place, Product, Promotion, and Price.  
• After these aspects are determined, then a thorough demographic analysis of the target customer must be done.  
• Finally, a financial budget must be drawn up to understand how much money would be required to carry the marketing plan in place.

The different steps of preparing a market plan start from a thorough environmental analysis to market analysis and finally developing the financial budget.