What are the sequential steps in preparing the Marketing Plan?

A. Market Identification
B. SWOT Analysis
C. Situational Analysis
D. Establish goals and strategies
E. Implementation of Plan

Choose the correct answer from the options given below:

C, A, B, D, E

The correct answer is option (4) - C, A, B, D, E

Generally, procedure for preparing the marketing plan involves following steps:

1) Business situation analysis: 'Where we have been?' – is the question responded to as the first step in designing the marketing plan. (C)

2) Identify the target market: For a new venture, it's very essential to define clearly the specific group of potential customers whose needs the enterprise aims to fulfill. (A)

3) Conduct SWOT analysis (B)

4) Establish goals (D)

5) Define marketing strategy (E)

6) Implementation and monitoring of the plan