The first stage in the development of a marketing plan is to
A) formulate a detailed marketing objective.
B) select a target market.
C) assess the marketing environment.
D) develop a new product.
E) monitor and evaluate the marketing program.

Question

Quizplus · Accepted Answer

Assessing the marketing environment is the first step in developing a marketing plan. It involves analyzing the internal factors, such as the company's strengths and weaknesses, and the external factors, such as the competition and changing market trends, that could impact the marketing strategy. This information is essential for determining the target market and developing marketing objectives.

The First Stage in the Development of a Marketing Plan