Which of the Following Is the First Step in Developing

question 20

Multiple Choice

Which of the following is the first step in developing a marketing strategy?

• A) Identify a target market
• B) Develop the right product
• C) Decide how to promote the product
• D) Implement the appropriate distribution system

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Definitions:

Delphi Method

An organized method of communication, initially created as a methodical, interactive prediction technique that depends on a group of specialists.

Moving Average Method

A statistical technique used to analyze time series data by creating a series of averages of different subsets of the full data set.

Forecasting

The process of making predictions of the future based on past and present data.

Indicators

Measures or signals used to assess current conditions or to forecast financial or economic trends.