What Is Marketing Strategy?

What Is Marketing Strategy?

1 Answer

  1. A marketing strategy is the overall plan of your business to determine your customer segment and reach out to them with your product offering. It focuses on trying to accomplish business goals through marketing efforts.
    A marketing strategy is made up of 5 components. They are:
    1. Target Market: The business needs to determine which segment of the population they are wanting to serve with their offering.
    2. Business Offering: It is the product or service that you are offering to the business.
    3. Value Proposition: It describes what does your product/service have in store for customers (benefits).
    4. Goal: You define a target which needs to be achieved to be able to gauge if the marketing efforts were successful.
    5. Communication strategy: The communication channels that the company plans to use to reach out to their customer segment or target market.

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