Explain What Is Meant by a Marketing Strategy and Identify

question 129

Essay

Explain what is meant by a marketing strategy and identify the two tasks that need to be performed in implementing the strategy.Identify the actions that are taken to select a target market.
(1) A marketing strategy is a plan for performing two tasks: Selecting a target market; and developing a marketing mix-implementing strategies for creating, pricing, promoting, and distributing products that satisfy customers.(2) To select a target market, you would take these actions: Identify the company's overall market (consumer or industrial market); and then segment your market using these segmentation variables: demographic, geographic, behavioral, and psychographic.

Understand how liabilities are related to the assets and owner’s equity of a company.

Understand and explain the components and purposes of basic financial statements such as the income statement, statement of owner's equity, balance sheet, and statement of cash flows.

Analyze and interpret financial statements to assess the financial health of a business.

Prepare an income statement and calculate net income or net loss for a given period.

---

Definitions:

Americans With Disabilities Act

A civil rights law enacted in 1990 in the United States, prohibiting discrimination against individuals with disabilities in all areas of public life.

Discriminate

To make an unjust or prejudicial distinction in the treatment of different categories of people, especially on the grounds of race, age, or sex.

Psychological Disorder

A pattern of behavioral or psychological symptoms that impact multiple areas of life and create distress for the person affected.

Anorexia Nervosa

A psychological and potentially life-threatening eating disorder characterized by extreme weight loss and self-starvation.