BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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identifying customer wants and satisfying them profitably
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a plan of actions a business will take to achieve its marketing objectives
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communicating with customers to become loyal to the business
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a financial plan for the marketing of a product
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Detailed explanation-1: -A marketing strategy refers to a business’s overall game plan for reaching prospective consumers and turning them into customers of their products or services. A marketing strategy contains the company’s value proposition, key brand messaging, data on target customer demographics, and other high-level elements.
Detailed explanation-2: -A marketing strategy is a long-term plan for achieving a company’s goals by understanding the needs of customers and creating a distinct and sustainable competitive advantage. It encompasses everything from determining who your customers are to deciding what channels you use to reach those customers.
Detailed explanation-3: -A marketing strategy is a business’s overall plan for reaching prospective customers. Usually, a marketing strategy describes a value proposition and key messages, and it has information about who the target market is-where they shop and what drives them to make a purchase.
Detailed explanation-4: -What are the 4Ps of marketing? (Marketing mix explained) The four Ps are product, price, place, and promotion. They are an example of a “marketing mix, ” or the combined tools and methodologies used by marketers to achieve their marketing objectives.
Detailed explanation-5: -The purpose of a marketing plan is to have a defined path to go to obtain new customers, strengthen relationships with current customers and clients, increase sales, improve retention and increase brand awareness.