The ‘Marketing Strategy’ is the way we have come up with for achieving our marketing goals and it should include two mandatory elements:
– Which target consumers whom we can reach, hold a viable potential to buy whatever we intend to sell?
– What is the offer (the entire marketing mix) we will be presenting to these consumers in order to appeal to them and thus realize the said potential, given their alternatives?
You must not think of these as two separate questions but rather as two parts of the same idea. Let me clarify. What are “target consumers with a potential to buy”? These are consumers (a sizeable enough group with buying power) likely to desire what you are offering. Why would they want it? That is the potential that you are supposed to identify. There may be several reasons. For example, maybe they are not consumers of your kind of product yet, however, they might be if something happens, or if they are exposed to a certain message. It could be that they have special needs or preferences, which up until today were not catered to by any of your competitors’ offers (and don’t forget that...
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