Marketing Strategy

The development of its marketing strategy is critical for a business, because without one, its efforts to draw customers are going to be ..... and ineffectual.

The focus of its strategy needs to be on ensuring that its products or services ..... customer needs better than do its competitors', as well as on the development of long-term, profitable customer associations.

The business should identify whole new markets to target: ..... to a successful marketing strategy is understanding one's customers and their needs.

One key to successful marketing is the undertanding that both existing and potential customers will ..... into specific segments or groups identified by their needs.

The focus of a company's strategy ought to be to identify such groups with their needs and then ..... them more successfully than its competition.

In this way, the business is able to create a marketing strategy which ..... the most of its strengths and then matches them with the needs of the customers it plans to target.

If, for instance, a specific customer segment wants quality first and ....., then marketing efforts aimed at them needs to direct their attention to the business's high quality service.

For maximum efficiency, the business should limit its activities to the methods that it thinks will work best, and thus avoid ..... its marketing budget too thinly.

Often forgotten is the necessity to monitor and evaluate the effectiveness of the marketing strategy; this control helps the company check how it is performing in practice and also helps to ..... its future strategy.

One simple ..... is to inquire of each new customer as to how they found out about the company.