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Over the last few months, Carlos and his colleagues have analyzed the current business situation and identified target markets for his firm's personal care products. Finally, they developed the products, prices, distribution, and promotion that should appeal to each of those target markets. In doing so, Carlos has also identified what he believes is an advantage his competitors cannot match. Carlos and his colleagues have been developing
A) a business mission statement.
B) a strategic vision.
C) team-building exercises.
D) a marketing strategy.
E) competitive assessments.
Marketing Strategy
An organization's comprehensive plan formulated for effectively promoting and selling its products or services, aiming to achieve a sustained competitive advantage.
Target Markets
Specific groups of potential consumers towards whom a company directs its marketing efforts and strategies.
Personal Care Products
Consumer products used in personal hygiene and for beautification, including items such as cosmetics, soaps, and hair care products.
- Understand the components involved in developing a marketing strategy.
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Learning Objectives
- Understand the components involved in developing a marketing strategy.
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