Market analysis refers to analysing the needs of the customers, and based on this information a marketer can take decisions for successful marketing of the products and services. He can analyse the buyer’s habit, relative popularity of product, etc.
Marketing Planning is a series of steps planned in order to achieve marketing objectives. The marketers have to develop a complete plan; covering various important aspects such as promotion policy, distribution policy, etc. in order to achieve the desired marketing objectives.
- Marketing Communication :
Every marketer has to ensure an efficient marketing communication system in his firm. For transmission of marketing information, he can use sources like advertisement, sales promotion, etc.
- Product Design & Development :
Effective product planning anticipates the wants and expectations of the consumers and develops the product accordingly. It requires improvement in the existing product and development of new products.
