Explain the marketing process

a) Situation analysis:
-A thorough analysis of the situation in which firm finds itself serves as the basis for
identifying opportunities to satisfy infulfilled customer need
b) Marketing strategy:
-Once the best opportunity to satisfy unfulfilled customer needs is identified, a strategic plan for pursuing the opportunity can be developed.it involves:
i)Segmentation
ii)Targeting(target market selection)
iii)Positioning the product within the target market
iv) Value proposition to the target market.
c)Marketing mix decisions:
these include:
-Product development
-pricing decisions
-distribution contracts
-promotional campaign development
d) Implementation and control
-At this point in the process, marketing plan has been developed and has been
launched. Given that few environments are static, the results of the marketing effort should be monitored closely. As the market changes the marketing mix can be adjusted to accommodate the changes