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Conduct Situation Analysis. At this stage, the analysis performed is SWOT analysis (streghts, weaknesses, opportunities and threats). This analysis includes opportunities and problems caused by buyer trends and situations, competitors, costs and also regulation. In addition, this analysis also includes the strengths and weaknesses of the company.
Marketing plans include overall marketing strategies, pricing, sales tactics, services and warranty policies, advertising and promotion, distribution, product desires, market research or market research. The steps to conduct market research are: identifying problems, collecting data, analyzing and interpreting data, drawing conclusions and taking action.