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Apart from metrics, a specific action plan allows a marketing plan to better measure results and that criteria are met. Elements of marketing performance that may be tracked include sales analysis, market share analysis, expense analysis, [11] and financial analysis (including figures such as profit, return on investment and contribution).
A market analysis investigates among other things the influence of supply and demand on a market. [4] Organizations use the findings to guide the investment decisions they make to advance their success. The findings of a market analysis may motivate an organization to change various aspects of its investment strategy.
Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. [1] In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information.
Sales planning involves strategy, setting profit-based sales targets, quotas, sales forecasting, demand management and the execution of a sales plan. A sales plan is a strategic document that outlines the business targets, resources and sales activities. It typically follows the lead of the marketing plan, strategic planning [2] [3] and the ...
To create an effective, cost-efficient marketing management strategy, firms must possess a detailed, objective understanding of their own business and the market in which they operate. [7] In analyzing these issues, the discipline of marketing management often overlaps with the related discipline of strategic planning.
Marketing research is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services. The goal is to identify and assess how changing elements of the marketing mix impacts customer behavior.
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