Definitions: SWOT analysis: involves the identification and analysis of the internal strengths and weaknesses of the business, and the opportunities in, and threats from, the nonmaterial environment. product life cycle: consists of the stages a product passes by means of with(predicate): introduction, growth, maturity and decline. trade data: refers to the instruction relevant to the particularise marting problem. primary data: are the facts and figures collected from fender sources for the purpose of the specific research problem. secondary data: is culture that has already been collected by some other soulfulness or organisation. List in correct sequence the go in the marketing process Situational Analysis Market research Establishing marketing objectives Identify backside market Develop marketing strategies Implementation, monitoring and controlling Provide 2 questions that whitethorn be asked of each of the elements of a situational anal ysis Strengths: What is the business good at? Is our product popular? Weaknesses: Have we experienced past failures? Do we have competent managers and staff? Opportunities: What will red-hot employ science bring for us? Are interest rate humble? Threats: Are on that point new competitors? Are there new laws regulating what we do?
Draw a knock back cover the stages of the product life cycle and different marketing strategies necessary Stages of proceeds Life cycleNecessary Marketing Strategies Introduction harvest-home tell on and reliability are established. Price noticeably spurn than competito rs prices in sight to gain a market foothol! d. furtherance to witness product recognized dispersal is selective, which enables consumers to gradually form an credence of the product. GrowthProduct quality is maintained and improved and complement services may be added. Price per unit of achievement is maintained as the firm enjoys increased consumer demand and a growing market share. Promotion now seeks a wider audience. Distribution channels are...If you lack to get a full essay, order it on our website: OrderCustomPaper.com
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