Description

Marketing Strategy

Meaning: Marketing strategy is defined by David Aaker as “a process that can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage.”

Features of marketing strategy:

• Marketing strategy includes all basic and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company.
• It also includes the formulation, evaluation and selection of market-oriented strategies and therefore contributes to the goals of the company and its marketing objectives.
• A marketing strategy is composed of many strategies for growth as well as interrelated components called the marketing mix.

Marketing Mix

Meaning: The marketing mix refers to the ingredients or the tools on the variables which the marketing mixes to interact with a particular market.

Components of marketing mix:

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