Process and Stages of Marketing

MARKETING
FUNDAMENTAL

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
Process and stages of marketing..................................................................................................3
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................1

INTRODUCTION
The file is on the topic process and stages of marketing which includes the role of marketing
mix. Marketing is an evolving strategy in corporate which focuses on defining a customer target
segment for the organisation, promoting the product between them through various channels and
creating product differentiation and studying market factors which can influence the product
sales. The study takes in consideration retail industry and how it goes through various stages in
marketing with emphasis on marketing mix.
Process and stages of marketing
Marketing involves these five stages in itself:
a) Mission: The sole purpose of existence of the company is defined in the mission. The
mission can be to become a pioneer in customer driven retail industry with supplying best
quality products and gaining popularity and profitability for itself as well as shareholders.
The mission statement has to be aspirational, inspiring and motivating for staff and also
inspiring for customers. The mission statement defines the company’s strategy, influence
over business and public perception of the organisation. The mission statement has to be
one which unifies the team to work together to meet the objectives (Hemonnet‐Goujot,
Manceau and Abecassis‐Moedas, 2019).
For instance, Sainsbury, a retail giant in grocery has the brand motto ‘Live well for less’. This
reflects the company strategy in product pricing to be less and affordable while company
maintains the quality of products. It has also launched its new mission ‘Helping everyone eat
better.’ This will be shared with colleagues and customers to signify what this means for them.
b)Situational Analysis
The second step is to evaluate internal as well as external factors which affect the business and
market. There are organisational as well as macro-economic factors who can influence the
market and the company to bring changes in its strategy. These factors can be assessed by doing
a SWOT analysis, using 5 Cs model and a Pestle analysis. A SWOT analysis can be done as
follows:
A) Strengths: It relates to the presence of a company in number of stores, how well the brand
is received among customers, the number of employees working in the company and the