A marketing strategy consists of two interrelated parts. These are:

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A marketing strategy involves selecting a target market and developing a marketing mix. The target market refers to the specific group of consumers that the company wants to reach with its marketing efforts. The marketing mix refers to the combination of product, price, promotion, and place (distribution) that the company uses to meet the needs of the target market. These two parts of the marketing strategy are interrelated, since the marketing mix must be tailored to the needs and preferences of the target market in order to be effective.

A Marketing Strategy Consists of Two Interrelated Parts