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Marketing
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After defining the business mission, what should a firm do next to develop a marketing plan?

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Collen Von
Collen VonLv2
30 Apr 2020
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Related questions

The marketing research process follows five steps, and researchers select one: 
 
a. should be prepared to present the results before completing the analysis if they are under a great deal of pressure to meet a deadline.
b. should maintain the integrity of the process by following each step sequentially and thoroughly.
c. may not always go through them in the exact sequence if the situation changes or new information is discovered.
d. often collect data before defining the research objectives.
e. may follow the process by completing all steps at once instead of planning the process first.
Marketing enriches society by 
A. focusing solely on maximizing profits.
B. sponsoring charitable events.
C. recognizing that the firm can do very little by itself, so it should stay focused on its own core competencies.
D. facilitating the smooth flow of goods through the supply chain.
E. coordinating marketing functions with other functional areas in the company.

Prompt

You are working for a small business owner selling women’s fitness apparel in a strip mall in a town with a population of 20,000. The space next door will become vacant next year once the lease expires, and the property manager has offered your business the opportunity to lease the space. The apparel company is financially sound, yet not seeing sales growth year over year. The company does not have an online sales platform and depends on repeat customers and foot traffic from the gym nearby. You are tasked with determining if there is a valid opportunity to expand the business to the location next door.

Explain the method you would use to research the viability of the company. What are three potential mistakes to avoid in your research and how can you avoid making those mistakes?

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