At which step of the planning stage of the strategic marketing process does a firm develop its marketing mix?
A)situation analysis
B)goal setting
C)marketing program
D)implementation
E)market segmentation

Question

Quizplus · Accepted Answer

Developing the marketing mix is a crucial part of creating the marketing program in which a firm decides how to allocate its resources to achieve its marketing objectives. The marketing mix encompasses the product, price, place/distribution, and promotion, which together formulate the marketing tactics to be implemented. Therefore, option C is the correct answer.

Situation analysis involves assessing the external and internal factors that affect a firm's marketing performance. Goal setting identifies the marketing objectives that a firm strives to achieve. Implementation is the stage where the marketing plan is executed, monitored, and adjusted. Lastly, market segmentation is the process of dividing a market into smaller groups of consumers with similar needs and characteristics. While market segmentation influences the development of the marketing mix, it is not the step where the mix is created.

At Which Step of the Planning Stage of the Strategic