The Art and Science of Choosing Target Markets and Building

question 96

Multiple Choice

The art and science of choosing target markets and building profitable relationships with them is called ________.

• A)marketing management
• B)market capitalization
• C)marketing liquidity
• D)market buzz
• E)marketing liberalization

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Definitions:

Marketing Objectives

Defined as specific goals set by a business when promoting its products or services to potential consumers that should be achieved within a given timeframe.

Products/Services Section

A part of a business plan or report that describes the goods or services offered by a company, detailing features, benefits, and target markets.

Marketing Plan

A marketing plan is a comprehensive document or blueprint that outlines an organization's advertising and marketing efforts for the coming period, detailing strategies for reaching target markets.

Alternative Plans

Contingent strategies prepared to address potential challenges or opportunities that may affect original plans.