What is the first step in Kotler's 6 step approach to marketing?

In Kotler's 6-step approach to marketing, identifying key competitors is crucial as it sets the foundation for the entire marketing strategy. This step involves recognizing who the main competitors in the market are, understanding their strengths and weaknesses, and analyzing their strategies. Knowing the competitive landscape allows businesses to position themselves effectively, differentiate their products or services, and anticipate market trends.

By understanding who the key competitors are, an organization can better evaluate its own market position, tailor its marketing efforts, and make informed decisions about how to allocate resources and strategize for success. This step is essential as it informs subsequent actions like determining goals, selecting the right strategies to combat competition, and assessing future marketing activities, all of which depend on a clear understanding of the competitive environment.