Question

What is the first step in the process of marketing management?

Options

• Choosing a target market

• Setting product prices

• Analyzing competitor strategies

• Implementing promotional campaigns

Answer 1

The process of marketing management begins with choosing a target market, which involves identifying and selecting the specific group of consumers the organization wants to serve. For example, a company might choose children's garments for ages up to 5 years as their target market. This foundational step guides all subsequent marketing decisions.