Discuss the marketing planning process and the major elements of the marketing plan. Make sure to discuss the following concepts: business mission statement, SWOT analysis (and environmental scanning), marketing objectives (and characteristic of useful marketing objectives), marketing strategy, and the marketing mix (4Ps:product, place (distribution), promotion, and pricing).
Discuss the marketing planning process and the major elements of the marketing plan. Make sure to discuss the following concepts: business mission statement, SWOT analysis (and environmental scanning), marketing objectives (and characteristic of useful marketing objectives), marketing strategy, and the marketing mix (4Ps:product, place (distribution), promotion, and pricing). Please watch the video on "Tesla SWOT Analysis" and discuss. https://www.youtube.com/watch?v=I7CT8Ox_Gcg
Marketing planning process means the whole process which involves the making of strategies and tactics to market a product, goods, commodities and the services to the audience/consumers.
Listed below are few major steps involved in the marketing planning process:
- Scanning the marketing environment
- Internal scanning
- advertisements
- Setting the marketing objectives
- Formulating the marketing strategy
- Developing the functional plans.
In the next step we will be discussing the concept of marketing planning process by taking the Example of TESLA in terms of business mission statement, SWOT analysis (and environmental scanning), marketing objectives and characteristic of useful marketing objectives, marketing strategy, and the marketing mix i.e. 4Ps:product, place distribution, promotion, and pricing.
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