Select the correct answer. Which step follows the marketing mix step in the process of marketing management? A. market research B. market monitoring C. marketing mix D. product development E. identifying target markets

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21 August, 13:46

Select the correct answer. Which step follows the marketing mix step in the process of marketing management? A. market research B. market monitoring C. marketing mix D. product development E. identifying target markets

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Armani Huerta · Answer 1

B. market monitoring

Explanation:

In the marketing management, there are several main steps:

First one is determining the mission of the marketing. In this step, the company has to come up with the corporate mission and objectives.

The second step is situation analysis. This step is mostly about market research, analyzing the external and internal environment of the corporation to identify the opportunity.

The third one is marketing strategy. In this step, company is identifying target market and set the measurable goals

The fourth step is marketing mix. The most common used is 4Ps with product development, pricing, promotion and placing.

The last step - following marketing mix is implementation and control. In this step, the company applies the strategy and after that measure the result and monitor the result to improve it.