The core elements of marketing strategy relate to market segmentation, targeting and _______,

Question

Quizplus · Accepted Answer

The core elements of marketing strategy are market segmentation, targeting and positioning. Promotion, repositioning and distribution are important components of the marketing mix, but they are not part of the strategic planning process. Market segmentation involves dividing the market into distinct groups of consumers who have similar needs or characteristics. Targeting involves selecting one or more of these groups to focus on with a marketing campaign. Positioning refers to the way in which a company's products or services are perceived in the minds of consumers relative to those of its competitors.

The Core Elements of Marketing Strategy Relate to Market Segmentation