After a review of the marketing plan, it is time to begin the five step strategic planning process
•First step
A detailed situation analysis that consists of an internal marketing audit and review and external analysis of the market competitor and environmental factor.
•Second step
Specific marketing objectives the provide direction, a time frame for marketing activities, and a mechanism for measuring performance.
•Step three
A marketing strategy and program that include selection of target market(s) and decision and plans for the four elements of the marketing mix.