Section 2.2 Marketing Concept
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industry trends, new technology, and the
competing businesses. It also includes
making sure the right people in an organi-
zation get the information needed to make
good business decisions. MIM is also called
marketing research. Activities might include
developing surveys, analyzing survey results,
preparing recommendations, and meeting
with customers.
Market Planning
The market planning function is creating
an actionable marketing plan designed to
achieve business goals. Activities in market
planning include identifying the target
market, determining appropriate marketing
strategies, setting a marketing budget, and
using metrics to measure budget effectiveness.
Stores always attempt to
display merchandise in
the most attractive ways
to encourage sales.
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