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    Marketing Strategy

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    Discuss how to achieve an effective marketing strategy through creating a marketing mix. Be sure to include a review of the four P's of marketing strategy

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    Solution Preview

    Market segmentation is a useful tool in defining possible target markets. A company should first focus on a broad product-market and then group similar customers into homogenous sub-markets using segmenting dimensions. Market grid diagram can also be drawn to provide visual aid to market segmentation.

    A fairly homogenous or similar group of customers to whom a company wishes to appeal becomes the company's target market. Target marketing is not limited to small market segments but rather only to ...

    Solution Summary

    This solution provides a overview the steps involved in formulating an effective marketing strategy. The solution explains how the various factors involved in formulating a marketing strategy can be simplified down to four main points of interest: product, place, promotion, and price.