Building the model is the essential step. It allows the forecaster to select the fundamental drivers and understand their interaction before the actual numbers obscure the picture. You have to examine the context to be sure of the author's intent whenever you see this ambiguous word. Note that we have used the tools learned in the previous lectures to study steps 1 and 2 below, market selection and product planning. At the heart of any business strategy is a marketing strategy.
Businesses exist to deliver products to markets.
Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. The decision making unit consists of all the people who play a role in the decision to purchase a product. The marketing mix program must understand the needs of each and find a way to communicate the marketing message to them. The people included in the decision making unit interact to make the purchasing decision. By understanding it a salesperson can best understand who, how, and when to work on getting the customer order.