Question

list and elaborate on the seven steps involved in the market analysis process

Answer 1

Answer :

A marketing analysis studies the attractiveness and the dynamics of a special market within a specialindustry. It is the part of industry analysis and thus in turn of the global environmental analysis. Through all of these analysis, the strengths, weakness, opertunities and treats of a company can be identified.

1.Develop vision before strategy.

vision and strategy are both important to your markrting success. But there is a priority to them.Vision always comes first. If uyou devlop a clear vision,you will atract the right strategy. If you don't have a clear vision , no strategy will save you. Most leader ship and buisiness owners don't take the time to ask , " what are my markrtig goals and what is my marketing vision ?" Devoting time and energy during your planning process is the most important aspect of any successful marketing implimentation.

2. Focus on the customer experiance.

​​​​​​​ Nothing matters more to a business than how they make customers feels determines whether your business survives or sinks. The secret of every business growth is word-of- mouth marketing, not the marketing done in the pages of a magazine, newspaper, trade publication, on TV or other media outlet. Word-of- mouth is generated because you made the customer experiance referable.If someone choose to refer your products or service, thet is "referable experiance " because that's what we share, our experiances with a product or service.

3. Become the new media company.

​​​​​​​ Today you must commiting creating content much like publisher might.Not just any content though, you need to create content that works as marketing. The internet has disrupted the traditional sales process . allowing the prospective customer or client to beginon their on termsvia search and social media. This means savvy business owners or markrting departments must adapt to the information empowerd prospect in a fasion that more resembles courting than it does selling. The best way to produce content that works as marketimg is to have it focus on the problems and desires of prospects and customers. It's all about delivering independentvalue with content before you attempt to make the sale.

4. Adapt the engagement model.

​​​​​​​ The majority of today's purchases decisions involved some amount of research online. Your bbusiness must be easily engaged online, and easily communicated with online. This requires a focus on Content marketing, SEO and Social media participation. Of course , this also ,means intagrating your online presence and activityinto every offline business function.

5. Educate to generate and close.

​​​​​​​ Don't think of yourself as a sales person but as a educator and partner to your prospect.this healthy mind set improves both your perspective and your chances of closing. Realize that you have an opertunity to educate your prospects to succeed at whatever they wish to succeed at. As soon as possible, learn what it is that your prospect wishes to succeed at , and then show how what you are selling can make that success achievable. You can educate them through work shop, seminars, webinars, classes, bloges etc...

6. Develop a selling process.

​​​​​​​ In the same way that your marketing generatesleads, you need to also take the same approach when a prospect wants to learn more.Have a well thought out road map that every new lead walks , a way to develop trust and rapport, and a proven process fpr orienting new clients can positively influence the bottom line conversion results you experience .

7. Create a marketing calendar.

​​​​​​​ The one thing that is finite for any business is time. There is always more month than time. So you must identify how and when you would like to launch your programe to market your products and services.By creating monthly projects and theme, weekly action steps, and daily marketing appointments , you keep the focus, enthusiasm and creativity on marketing. Follow your marketing calendar even if it doesn't seem to be producing results.Avoid the temptation to alter it for at least a few months.Give it time, remeber process not an event.    

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