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sued. ? The market positioning for the product is then determined. ? Analyzing marketing opportunities ? Selecting target markets ? Developing the marketing mix ? Managing the marketing effort Key Elements 2 18 The Marketing Process ? Competitor analysis guides petitive marketing strategy development. ? Strategy leads to tactics by way of the marketing mix: ? The “Four Ps” – product, price, place, promotion (seller viewpoint) ? The “Four Cs” – customer solution, cost, convenience, and munication (customer viewpoint) ? Analyzing marketing opportunities ? Selecting target markets ? Developing the marketing mix ? Managing the marketing effort Key Elements 2 19 The Marketing Process ? Marketing analysis ? Provides information helpful in planning, implementation, and control ? Marketing planning ? Strategies and tactics ? Marketing implementation ? Turns plans into action ? Marketing control ? Operating control ? Strategic control ? Marketing audit ? Analyzing marketing opportunities ? Selecting target markets ? Developing the marketing mix ? Managing the marketing effort Key Elements