I like to divide the art and science of marketing into four major phases -
1) Planning During the planning phase, marketers conduct research, immerse themselves in the market and the product, and prepare for the product launch. This phase includes such activities as test markets, production of collateral and promotional materials, and design of the product and requisite manufacturing facilities or processes as necessary. The culmination of this phase from the marketer's perspective is with the production of a full-blown marketing plan.
2) Execution Following the planning phase, marketers lead their company in executing the plan, launching the product to market and putting all of the elements of the plan into action.
3) Measurement Once the product is on the market, marketers collect data, conduct primary research (e.g. surveys and focus groups) and try to assess the success of their product launch using a variety of methodologies.
4) Control Finally, during the control phase marketers fine-tune their strategy, manipulating pricing, packaging and distribution, for example, or launching new promotional campaigns. The control phase may also include product repositioning, if the product's initial positioning is found to be ineffective or unsatisfactory.
(...to be continued...)
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