Significance of Marketing Frameworks. Planning, Executing and Analyzing Marketing Strategies

Seminar paper from the year 2022 in the subject Business economics - Business Management, Corporate Governance, language: English, abstract: This paper discusses the significance of marketing frameworks, which are critical to the marketing management of a company. These frameworks help in planning, executing, and analyzing marketing strategies to ensure that corporate objectives are achieved in the long run. The article identifies several traditional and modern marketing frameworks such as the 7Ps of Marketing Mix, Porter's 5 Forces, STP Marketing Model, Pirate Metrics, and Lean Analytics Stages. The 7Ps of Marketing Mix are discussed in detail, which include product, price, place, promotion, people, process, and physical evidence. The article highlights that marketing frameworks help marketing teams to focus on tasks and execute strategies effectively, which can result in long-term benefits for the company.