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1. Understand the concept and summons of trade 1. Explain the various elements of the marketing process a. imagery arguing Vision is a part of the marketing be after and strategy. This is very principal(prenominal) 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 line up up their vision before they do the business. Their vision mustiness 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 heart and soul 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 arg on 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, growing of asset base, earning per share and so on.

All objectives should be orthogonal: Specific Measurable Accessible Realistic Timeline (Time fram e) The purposes of SMART object! ives entangle: To enable a company to control its marketing computer program 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 verbalism and Implementation Strategy Formulation is the stage of strategic weather eye that involves the planning and decision making that lead to the establishment of...If you privation to get a full essay, order it on our website: OrderCustomPaper.com

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