What is the first step of the five-step marketing process?
A) Design a customer-driven marketing strategy.
B) Set a profitable price.
C) Build profitable relationships.
D) Understand the marketplace and customer needs and wants.
E) Construct a marketing program that delivers superior value.

Question

What is the first step of the five-step marketing process?
A)	Design a customer-driven marketing strategy.
B)	Set a profitable price.
C)	Build profitable relationships.
D)	Understand the marketplace and customer needs and wants.
E)	Construct a marketing program that delivers superior value.

Quizplus · Accepted Answer

Understanding the marketplace and customer needs and wants is the foundational step in the five-step marketing process. This step involves researching and analyzing the market to identify potential customer needs, wants, and preferences, which then informs the development of a customer-driven marketing strategy.

What Is the First Step of the Five-Step Marketing Process