ECONOMICS (CBSE/UGC NET)

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 pull marketing strategy, also called a pull promotional strategy, refers to a strategy in which a firm aims to increase the demand for its products and draw (“pull”) consumers to the product.

Detailed explanation-3: -A brand leveraging strategy uses the power of an existing brand name to support a company’s entry into a new, but related, product category.

Detailed explanation-4: -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.