A marketing strategy consists of selecting a segment of the market as the company's target market and designing the proper:
A) products for that target market
B) "mix" of product/service, price, promotion, and distribution for that market
C) promotion for that target market
D) incentives to allow a large percentage of the target market to purchase goods and services from the company
E) properly defining the marketing "mission statement"

Question

Quizplus · Accepted Answer

A marketing strategy involves designing the marketing mix of product/service, price, promotion, and distribution for the target market. While selecting a target market and designing the right products for them is a part of the strategy, the overall mix is critical in ensuring successful implementation. Promotion and incentives are important components of the mix, but alone they do not constitute a complete marketing strategy. Similarly, defining a marketing mission statement is important, but it is not the main crux of designing a marketing strategy.

A Marketing Strategy Consists of Selecting a Segment of the Market