Which is the first step in developing a marketing plan?

Name: Which is the first step in developing a marketing plan?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Performing a situation analysis is the first step in developing a marketing plan. It involves analyzing factors such as the market size, competition, target audience, and industry trends to understand the current position of the business and identify areas for improvement. Only after conducting a situation analysis can targeted marketing strategies be developed.

Which Is the First Step in Developing a Marketing Plan