A marketing strategy consists of selecting a segment of the market as the company's target market and designing the proper"mix"of product/service,price,promotion,and distribution system to meet the wants and needs of the consumers within the target market.

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This statement accurately defines what a marketing strategy is. It involves identifying the specific group of customers that the company wants to focus on (target market) and then developing a plan to offer products or services that meet their needs in terms of features, benefits, pricing, promotion, and distribution.

A Marketing Strategy Consists of Selecting a Segment of the Market