List and explain the six steps in the development of a marketing ...

[kellyjaisingh]

List and explain the six steps in the development of a marketing plan.
 
  What will be an ideal response?

Question 2

Guests ordering the restaurant's signature dessert, receive it on a personalized, decorated platter, delivered by the pastry chef. What kind of value enhancement strategy is the following example of?
 
  a. Emotional Value
  b. Trust
  c. Identification with the Organization
  d. Social Value
  e. Functional Value

[IRincones]

Answer to Question 1

Terms:
Conducting a marketing audit: includes customer analysis, property analysis, and competition analysispurpose is to develop a profile of the customers, property, and competitors in order to evaluate the operation.
Select target markets: allows operator to effectively target marketing efforts to those most likely to patronize the restaurant.
Position the property: creates an image of the operation in the minds of customers, describes the benefits the restaurant offers to the guests, and it differentiates the property from the competition.
Determine marketing objectives: gives managers a way to determine the extent to which they are moving forward and allow them to change strategies if positive movement is not being made.
Develop and implement action plans: the implementation of an action plan actually involves the development and execution of a specific marketing mix for each segment of the market being sought. It involves developing the means to carry out the job, developing a budget to accomplish the plan, and assigning responsibility for the plan. Includes the product-service mix, price, promotion-communication mix, place-distribution mix, and budget decisions.

Answer to Question 2

D