At the core of the flow chart is the marketing research team. The factors affecting marketing research are:
Stakeholders
Consumers
Employees
Investors
Suppliers
Local communities
Environmental Factors
Economic
Technological
Competitive
Political-legal
Sociocultural
Controllable Marketing Variables
Product
Pricing
Promotion
Place
After these factors are studied and taken into consideration, the marketing research begins:
Assessing information needs
Providing information
Making decisions
This leads to:
Marketing decisions
- Market segmentation
- Target market selection
- Marketing plan
- Goals for performance
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