What are the standard steps in marketing?

Marketing is defined as the process of management, which involves the selling of products and services through the process of advertising for meeting customer needs and satisfaction. The process of marketing involves certain steps. 

These actions help to shape the business strategy to meet the business goals. Marketing includes promotion of the products and services, selling them and distributing them through supply chain management. Let's discuss the various steps of marketing in detail.

The first step is to carry out a marketing research through different stages to understand customer needs and demand. Once the market is analyzed thoroughly, the marketer goes to formulate the specifications of products and services according to the customer requirements. Once, the product specifications are formulated, they are manufactured through various processes. 

Once the manufacturing is done, promotion of the goods and services and advertising them are done on a huge scale. This is done to capture the market, attract new customers and retain the old ones. Several strategies are implemented. 

Celebrity endorsements are done many a time depending on the need. This helps to promote brand awareness. Lastly, the products are distributed in the market through the supply chain management process from one level to another sequentially.

Thus, these are the various stages of marketing. The companies and organizations follow these steps one by one to meet the marketing reach and customer base of the products and services based on the particular demand.