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4 Stages of Marketing: Every Marketer Should Know (Watertown)
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|4 Stages of Marketing: Every Marketer Should Know (Watertown) by Sophiarainey(2): Wed 27, January, 2021|
4 Stages of Marketing
Every company must go through multiple stages of marketing to ensure their services and products are ready for selling. The real starting point of the marketing process is always your overall business goals since your marketing strategy will be designed to help you accomplish these. Once your business goals are defined, here are the four stages of marketing.
The First Stage is Ideation:
You should be very clear that marketing starts when you develop an idea for a product or service. Before launching any product or service, you must prepare what you are going to sell to the market, how many options are already available in the market, how are you going to compete with them, and how it will be packaged and presented to consumers.
The Second Stage is Research & Testing:
Before you start your product or service idea public, you should perform marketing research and testing about your consumer and their requirements. Marketing departments usually test new product concepts with few focused groups and surveys to gauge consumer interest, refine business services or product ideas, and determine what price/charges to set.
Don’t forget to research about your competitors, researching your competitors can be a big advantage for you to set an optimal price and generate ideas for positioning your brand in an existing market.
The Third Stage is Advertising:
The whole information you gather in your marketing research will help you to define your marketing strategy and create a great advertising campaign for your product and services. Marketing campaigns can include different forms of media, events, direct advertising, paid partnerships, public relations, and more. Before doing an advertising campaign live, always set concrete benchmarks that you can use to measure how effective that advertising campaign is.
The Fourth Stage is Selling:
Always determine where and how you plan to sell to your prospects. A buying process follows a long path and involves more decision-makers. You can market locally, nationally, or even internationally, and some companies only market their services or products online. Your distribution and sales channels impact who are buyers of your products, when are they going to buy them, and how are they going to buy them.
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