Well Done

1. Understand the concept and summons of trade
1. Explain the various elements of the marketing process
a. Vision statement
Vision is a part of the marketing be after and strategy. This is very important for VMEPH to be clear because vision is what the go with demands to become and achieve. Vision is the first step of marketing process so VMEPH has to set up their vision before they do the business. Their vision must be imaginable, desirable, feasible, focused, flexible, communicable and challenging to abridge the effectiveness.
b. Mission statement
After setting the vision, the connection has to have a mission, which means particular activities to gain or achieve the design has been set. The mission statement of the accompany (VMEPH) shows its purposes and it also guides the action of the company as well as decision-making.
c. Situation Analysis
Two factors argon considered when the company analyses the situation:
Internal factors
Strengths and Weaknesses are involved in Internal factors
outdoor(a) factors
Opportunities and Threats are involved in External factors
d. Objectives
Objectives are more specific goals of the company to grow the profit, returns on investment, growth of asset base, earning per share and so on.




All objectives should be SMART:
Specific
Measurable
Accessible
Realistic
Timeline (Time frame)
The purposes of SMART objectives include:
To enable a company to control its marketing plan
To help to motivate individuals and teams to reach a common goal
To provide an agreement, consistent focus for all functions of an organization.
e. dodging formulation and Implementation
Strategy Formulation is the stage of strategic watchfulness that involves the planning and decision making that lead to the establishment of...If you want to get a full essay, order it on our website: Orderessay



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