Marketing strategy

Marketing strategy refers the marketing logic by which the company hopes to create customer value and achieve profitable relationships and its overall approach for marketing its products and services. A firm’s overall approach typically boils down to how it positions itself in its market and how it differentiates itself from its competitors.

The company decides which customers it will serve (segmentation and targeting) and how (differentiation and positioning). It indentifies the total market and then divides it into smaller segments, selects the most promising segments, and focuses on serving and satisfying the customers in these segments.

Marketing strategy is the section of a business plan that presents information describing the market’s need for a product and how the business will satisfy it.

Marketing strategy is an overall plan for conducting marketing activities to enable the organization to use its resources and strengths t meet the needs of the marketplace; includes two steps: (1) select and analyze a target market and (2) design and maintain a marketing mix that will satisfy the target market.

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