Asked by Peter Kervin on Jul 26, 2024
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Most marketing plans establish the size and needs of target segments but not the details of the marketing mix.
Marketing Plans
Marketing plans are comprehensive documents outlining a business's strategy for promoting its products or services, including targets, tactics, and budget allocations for a specific period.
Target Segments
Specific groups of potential customers that a company aims to reach with its products and marketing strategies.
Marketing Mix
A collection of manipulable strategic marketing instruments—product, price, place, and promotion—that a firm employs to elicit a specific reaction from its intended audience.
- Comprehend the components of marketing plans including target segment size, needs, and marketing mix details.
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Learning Objectives
- Comprehend the components of marketing plans including target segment size, needs, and marketing mix details.
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