helps organization determine potential market developing marketing strategy quizlet

What helps an organization determine a potential market when developing a marketing strategy quizlet?

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After college, John purchased a Toyota Tacoma for $23,000. He got married recently and is shopping for a more family-oriented vehicle. His is considering purchasing a $26,000 Toyota Camry. Over the course of his life, John will have many other opportunities to purchased Toyota vehicles, including a $34,000 Toyota 4Runner for weekend camping activities. John's customer lifetime value is at least

a. $830,000
b. $92,000
c. $166,000
d. $83,000

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What helps an organization determine a potential market when developing a marketing strategy?

Market research is an essential part of your marketing strategy. It: involves gathering and analysing information about your customers and industry, such as size, growth and trends. helps you to know more about your customers and the current and future demand for your products and services.

What are the 4 components of marketing?

The marketing mix, also known as the four P's of marketing, refers to the four key elements of a marketing strategy: product, price, place and promotion.

What does marketing strategy begin with quizlet?

- A set of plans about marketing which are designed to fulfil the objectives of a business. - A marketing strategy might, for example, set out plans about product development, pricing and promotion to achieve marketing objectives, such as breaking into new markets or increasing sales of existing products.

What are the two parts of a marketing strategy quizlet?

The two major parts of a marketing strategy are selecting a target market and creating a marketing mix. The target market must be chosen before the organization can adapt its marketing mix to meet the customers' needs and preferences.

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