Multiple Choice QuestionA marketing strategy has two major components: selecting a target market, and ______.Multiple choice question.developing segmented marketsdistributing products according to consumer needspricing products according to consumer needsdeveloping an appropriate marketing mix
Question
Multiple Choice QuestionA marketing strategy has two major components: selecting a target market, and ______.Multiple choice question.developing segmented marketsdistributing products according to consumer needspricing products according to consumer needsdeveloping an appropriate marketing mix
Solution
The correct answer is: developing an appropriate marketing mix.
Here's why: A marketing strategy is all about reaching your target audience in the most effective way possible. This involves two main steps: first, you need to select your target market, which is the group of people you're aiming to sell your product or service to. Second, you need to develop an appropriate marketing mix. The marketing mix refers to the set of actions a company uses to promote its brand or product in the market. The 4Ps make up a typical marketing mix - Product, Price, Promotion and Place. The other options like developing segmented markets, distributing products according to consumer needs, and pricing products according to consumer needs are all part of developing an appropriate marketing mix, but they are not the major components of a marketing strategy.
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