Answer the following Marketing Discussion Questions Assignment

Answer the following Marketing Discussion Questions - Assignment Example SWOT analysis is the third step which emphasizes on the internal factors (strengths and weaknesses) and external factors (opportunities and threats). The fourth step, marketing goals and objectives are formulated that are formal statements of the desired and expected results from the marketing plan. The fifth component is the marketing strategy which entails selecting and analyzing target markets and developing and maintaining a suitable market program (product, distribution, promotion and product) to fulfil the needs of those target markets. Devising of the marketing strategy results in marketing implementation that describes how the marketing plan will be executed. The last stage of the marketing plan describes how the outcomes of the marketing plan are evaluated and controlled. Marketing plan is critical in marketing process because it allows the organizations to identify the right target market and fulfil their needs and wants through the most suitable marketing strategies (Ferre ll & Hartline, 2007, p. 42-45).