BUS 343 W2 - Developing Markeitng Strategies

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Last updated 7:30 PM on 6/16/26
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6 Terms

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Marketing Strategy

Creating Communicating and Delivering value for a target audeince to get a profit

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Target Market

The specific group of customers the company wants to serve

3
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Marketing Mix (4 Ps)

Tools that companies use to create value: Product Price Place Promotion

4
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Sustainable competitive advantage

Something a company does better than competitors that is hard to copy over time (Customer, operational, product or locational excellence)

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Mission Statement

A short explanation of why the company exists and what it wants to accomplish

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STP

Segmentation Targeting & Positioning