Explain what is meant by a marketing strategy and identify the two tasks that need to be performed in implementing the strategy.Identify the actions that are taken to select a target market.
(1) A marketing strategy is a plan for performing two tasks: Selecting a target market; and developing a marketing mix-implementing strategies for creating, pricing, promoting, and distributing products that satisfy customers.(2) To select a target market, you would take these actions: Identify the company's overall market (consumer or industrial market); and then segment your market using these segmentation variables: demographic, geographic, behavioral, and psychographic.

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The Answer of Explain what is meant by a marketing strategy and identify the two tasks that need to be performed in implementing the strategy.Identify the actions that are taken to select a target market.
(1) A marketing strategy is a plan for performing two tasks: Selecting a target market; and developing a marketing mix-implementing strategies for creating, pricing, promoting, and distributing products that satisfy customers.(2) To select a target market, you would take these actions: Identify the company's overall market (consumer or industrial market); and then segment your market using these segmentation variables: demographic, geographic, behavioral, and psychographic.

Explain What Is Meant by a Marketing Strategy and Identify