The first part of a marketing strategy statement describes the ________ of a new product.
A) planned price
B) marketing budget
C) marketing mix strategy
D) target market
E) planned long-run sales

Question

Quizplus · Accepted Answer

The target market is the first element that needs to be defined in a marketing strategy statement, as it sets the foundation for all other decisions such as price, promotion, and distribution. It defines the specific group of individuals, organizations or businesses that the product will be aimed at satisfying.

The First Part of a Marketing Strategy Statement Describes the ________