Question

With respect to the international planning process, the marketing plan begins with a situation analysis and culminates in the selection of an entry mode and a specific action program for a market. What is the first step in the marketing plan?

1) Situation analysis
2) Selection of entry mode
3) Selection of action program
4) Market selection

Answer 1

The initial step in the marketing plan is the situation analysis, involving market research and an understanding of various constraints that will guide further strategic decisions.

Step-by-step explanation:

The first step in the international marketing planning process is situation analysis. This phase involves a thorough investigation into the current circumstances of the market, including a study of potential customers, competitors, technological constraints, and any government regulations that may impact the market entry. A situation analysis provides a clear understanding of the scope and resources available for the market endeavor, guiding the subsequent steps of selecting an entry mode, market selection, and developing a specific action program.