Sebrin Shikur
more than 4 weeks ago
Explain startegic marketing in view of the key terminology ?
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more than 4 weeks ago
Strategic marketing is the process of planning, implementing, and evaluating marketing initiatives that align with an organization's overall goals and objectives. It involves analyzing market trends, identifying target audiences, and developing strategies to reach and engage with those audiences effectively.
Key terminology in strategic marketing includes:
1. Market segmentation: Dividing a market into distinct groups of consumers with similar needs, characteristics, or behaviors.
2. Target market: The specific group of consumers that a company aims to reach with its marketing efforts.
3. Positioning: Creating a distinct and desirable image for a product or brand in the minds of consumers relative to competitors.
4. SWOT analysis: An assessment of a company's strengths, weaknesses, opportunities, and threats to inform strategic decision-making.
5. Marketing mix: The combination of product, price, promotion, and place (distribution) strategies used to meet the needs of a target market.
6. Competitive advantage: The unique qualities or attributes that set a company apart from its competitors and give it an edge in the market.
7. Marketing strategy: A plan of action for achieving marketing objectives, including target market selection, positioning, and tactics for reaching and engaging with consumers.
By understanding and applying these key terms in strategic marketing, organizations can develop effective marketing strategies that drive growth, increase brand awareness, and ultimately achieve their business objectives.
Key terminology in strategic marketing includes:
1. Market segmentation: Dividing a market into distinct groups of consumers with similar needs, characteristics, or behaviors.
2. Target market: The specific group of consumers that a company aims to reach with its marketing efforts.
3. Positioning: Creating a distinct and desirable image for a product or brand in the minds of consumers relative to competitors.
4. SWOT analysis: An assessment of a company's strengths, weaknesses, opportunities, and threats to inform strategic decision-making.
5. Marketing mix: The combination of product, price, promotion, and place (distribution) strategies used to meet the needs of a target market.
6. Competitive advantage: The unique qualities or attributes that set a company apart from its competitors and give it an edge in the market.
7. Marketing strategy: A plan of action for achieving marketing objectives, including target market selection, positioning, and tactics for reaching and engaging with consumers.
By understanding and applying these key terms in strategic marketing, organizations can develop effective marketing strategies that drive growth, increase brand awareness, and ultimately achieve their business objectives.
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