Importance Of Marketing Strategy Formulation

Therefore, marketing strategy formulation becomes a pre requisite for developing marketing mix of a company. Many times this important step is missed out by the company or they fail to understand the importance of this step. This study has been undertaken with the view of making realize the importance of marketing strategy formulation and make people understand what is this formulation step. Also it was interesting for me to observe how a newly established company devises its marketing strategies. I have chosen this company in particular because of two reasons. Firstly, it is newly established so it perfectly serves the objective of my report. Second, it has been able to gain some marketing even before launching its products in the market so

A good first step in a marketing strategy formulation is determining what you want to accomplish in terms of marketing. The second step is to examine both internal and external trends. Third step is to assigning a value to the strategy’s outcome. After the targets are set, marketers assign certain tasks to each department to identify the role they will play in reaching the strategy’s goals. The reason for doing so is to get a firm idea of where the business is now and where it will be after the strategy is implemented. And finally all the information gathered throughout the process is taken and strategy best fitted according to our goals and needs are

To understand how Godavari Flour Mill formulate its marketing strategy.

2. To identify what factors play important role for customers in making purchase.

3. To identify consumer perception and expectations from various brands of biscuits in Dhangadhi, Nepal.

4. To identify the features that will establish Sudur’s brand preference over other biscuit brands.

RESEARCH METHODOLOGY

In this research I have followed exploratory method of study. The complete research which is done in this project is through both, the primary data and the secondary data which includes observations, questionnaire, and internet.

I have made this report with utmost care and have drawn conclusions and provided recommendations according to my knowledge afterwards.

Sample Size: 120

Sampling Technique: Simple Random Sampling

Sampling Population: Finite

Instrument: Questionnaire,

Demographic: 60% were males & 40% were females.

The sample profile was all the sections of society.

Geographic Location: Dhangadhi, NEPAL

Reference Period

The reference period for the study was the month of May and June