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Companies focus on sales and advertising only after all other factors of marketing have been determined. This unit will teach you that marketing departments focus on a set of core principles, most of which are summarized by the 4 Ps (product, price, place, and promotion). The 4 Ps are also known as the marketing mix.
The foundation of any marketing plan is the firm's mission statement. A mission statement explains the purpose of why a company is in business and what it is trying to accomplish.A company can't create a mission statement without first analyzing itself and the conditions of the environment in which it competes.he first part of the SWOT analysis is examining a company's internal strengths and weakness. In this step, a marketing manager looks internally at the company's resources, such as finances, engineering, marketing, employees and production, to see where the company excels or needs improvement.