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Questions and Answers
During the marketing planning process, you evaluate past ______ to verify their success.
promotions
To achieve the company's business goals, it is crucial to understand the current ______ situation.
business
Analyzing the ______ of different markets or audiences is part of the marketing planning process.
opportunities
To understand how clients make their buying decision, you can conduct ______ research.
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Researching your ______ is essential to understand how it differs from the competition.
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Understanding your target ______ is essential in marketing planning.
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Positioning your ______ is crucial to attract people's attention and show your competitive advantage.
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Differentiators must be ______, provable, and relevant.
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A successful ______ is one that attracts people's attention to your brand and shows your competitive advantage.
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The marketing planning process involves understanding the ______ that could stop you from achieving your business goals.
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Study Notes
Marketing Planning
- Importantly, marketing planning involves designing and developing a marketing strategy and allocating resources to achieve objectives.
- Marketing planning can be adapted to the organization's situation, such as launching, repositioning, or re-branding.
Types of Marketing Planning
- Long-term marketing planning: planning for more than one year, focusing on future objectives and strategies, and setting a framework for short-term plans.
- Short-term marketing planning: planning for less than a year, focusing on solving recurring issues, and typically renewed annually.
Steps in Marketing Planning Process
- Analyze the current situation to decide which area requires more focus.
- Define and refine the offer based on the analysis of the current business situation, competition, and clients.
- Choose marketing techniques that align with the target audience's preferences.
- Adapt tools and skills to the chosen techniques.
- Write down the plan, detailing actions to take with a timeline.
Understanding the Current Business Situation
- Objective of marketing planning is to achieve the company's business goals.
- Analyze the opportunities of different markets or audiences.
- Conduct client research to understand their buying decisions.
- Research the brand.
Understanding the Target Client
- Know how the client thinks and prioritizes things to understand their buying decisions.
- Research how clients look for products or providers to know how to provide them with information.
Positioning the Brand
- A successful positioning attracts people's attention to the brand and shows its competitive advantage.
- Understand the differences from the competition (differentiators).
- Differentiators must be true, provable, and relevant.
- Write messages to the target audience based on the identified differentiators.
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Description
This quiz covers the key concepts of designing and developing a marketing strategy, allocating resources to achieve objectives, and adapting marketing planning to an organization's situation.
