What Is the First Step in the Marketing Process

question 53

Multiple Choice

What is the first step in the marketing process?

• A)Set objectives for the marketing effort.
• B)Research the consumer market and the competitive marketplace and develop a situation analysis.
• C)Assess consumer needs and wants relative to the product, segment the market into groups that are likely to respond, and target specific markets.
• D)Differentiate and position the product relative to the competition.
• E)Develop the marketing mix strategy.

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Definitions:

Group-Oriented Contingencies

A strategy used within group settings where rewards or consequences are delivered based on collective behavior or performance.

Interdependent

Mutual dependence between things. In social contexts, it refers to relationships where individuals or groups rely on each other.

Preference List

A ranked list of items or options according to a person's likes, desires, or priorities.

Reinforcers

Stimuli that increase the likelihood of a behavior being repeated, which can be positive (adding something desirable) or negative (removing something undesirable).