Marketing Strategy

What is the primary purpose of a marketing strategy?

• To gain a long-term competitive advantage

• To create a product

• To reduce prices

• To increase production

Which of the following is NOT one of the five elements of a marketing strategy?

• Key messages

• Strategic analysis

• Marketing goals

• Product design

What does the competitive strategy focus on?

• Creating new products

• Understanding market trends

• Reducing costs

• Supporting marketing messages

Which approach involves competing directly with other brands?

• Cost leadership

• Guerrilla marketing

• Niche focus

• Direct competition

What is guerrilla marketing known for?

• Lowering prices

• Using traditional advertising

• Innovative marketing techniques

• Focusing on large competitors