What are the three high-level decisions to consider when creating a sound marketing strategy? A. Target...

What are the three high-level decisions to consider when creating a sound marketing strategy?

A.	Target segments, competitive advantages, and singularity

B.	Value, costs, and pricing

C.	Distribution, financing, and operations

D.	Budgeting, forecasting, and production

E.	Pricing, placement, and promotion

Solutions

Expert Solution

The correct answer A i.e. Target segments which tells the marketing team that what are the tastes and preferences of the customer and accordingly the marketing team can align their tasks. Competitive advantages gives a clear idea to the company that what are the points on which it can capitalize and similarly for Singularity.

Value, costs and pricing is incorrect as all come under financing and cannot be the sole criteria to develop a sound marketing strategy. Pricing, placement and promotion is again not the correct answer as placement is usually not a part of high level strategy and should be avoided at the first step, once we dig deeper we might include it to see how it can be fitted within the marketing strategy. Distribution generally is included in the next part that is how we would be supplying the materials etc. and hence as far as the high level is concerned it is not the correct decision.

keosha answered 1 year ago

Next > < Previous

Related Solutions

1. Discuss the factors that marketing experts consider when choosing a target segmentation strategy? 2. What...

1. Discuss the factors that marketing experts consider when choosing a target segmentation strategy? 2. What are the most likely types of buying behavior when buying a mobile phone?

What are some key steps to consider when creating a social responsibility marketing plan for a...

What are some key steps to consider when creating a social responsibility marketing plan for a new brand?

Market boundaries: target marketing " segmentation is at the heart of marketing strategy". Explain the importance...

Market boundaries: target marketing " segmentation is at the heart of marketing strategy". Explain the importance of market segmentation Choose two markets (one from a consumer and one from an organizational market) and show how these may be segmented. The structure or format of the paper should include the following: Introduction Body/Content by sub-topics Conclusion References

The marketing mix elements are quite significant in creating the right marketing strategy and its implementation....

The marketing mix elements are quite significant in creating the right marketing strategy and its implementation. illustrate how you would use the marketing mix elements to come up with the right marketing strategy or market offering for your courier service.

What role do work and leisure play in creating and executing marketing strategy? Why? What role...

What role do work and leisure play in creating and executing marketing strategy? Why? What role does the World Wide Web play in marketing strategy? Why?

What is Target Marketing?

Target Marketing is: a. Deciding to enter consumer markets b. Choosing target market before moving on to market segmentation c. Evaluating the relative attractiveness of various market segments d. Developing the marketing mix before moving on to market segmentation and positioning

Marketing Strategy Promotion of your product in NewShoes can target consumers, or it can target dealers....

Marketing Strategy Promotion of your product in NewShoes can target consumers, or it can target dealers. Consumer promotion is designed to “pull” customers into stores to purchase your product. Promotion decisions are entered for each region in which you are marketing your shoes. Advertising attempts to make consumers aware of your product so they know to look for it when they are shopping for shoes. Your decision simply sets the budget for advertising; the media and message are chosen for...

Marketing Strategy Price Response In NewShoes you will make marketing decisions for each region in which...

Marketing Strategy Price Response In NewShoes you will make marketing decisions for each region in which you are selling your shoes. When setting price, you need to consider both the unit cost of your product and expectations of consumers in the market. You can use break-even analysis to project how many units you need to sell at a given price to cover costs. Knowing how consumers respond to price will require doing some market research. A good place to start...

There are three approach of business level strategy : diversification strategy, cost leadership strategy and and...

There are three approach of business level strategy : diversification strategy, cost leadership strategy and and focus strategy. Please explain what is diversification strategy and cost leadership strategy and give example in coffee industry in Indonesia. (30 points

Why is the marketing strategy so important to the pricing decisions? Can you think of an...

Why is the marketing strategy so important to the pricing decisions? Can you think of an example in which the strategy and pricing decisions are inconsistent?

Subjects