Identifying and analyzing a target market and developing a marketing mix to satisfy individuals in that market are essential elements of which of the following parts of strategic planning?
A)Establishing marketing objectives
B)Coordinating marketing activities
C)Organizing marketing functions
D)Developing a marketing strategy
E)Planning marketing activities

Question

Quizplus · Accepted Answer

Developing a marketing strategy involves identifying and analyzing a target market and creating a marketing mix to meet the needs of that market. This is essential to the development of an effective marketing plan, which is a key component of strategic planning. Option A (Establishing marketing objectives) is an important step in the strategic planning process, but it does not involve identifying a target market or creating a marketing mix. Option B (Coordinating marketing activities) and Option C (Organizing marketing functions) are important functions within a marketing department, but they are not directly related to strategic planning. Option E (Planning marketing activities) is a general step in the marketing planning process and does not specifically focus on identifying and analyzing a target market.

Identifying and Analyzing a Target Market and Developing a Marketing