Assignment 08 Products and services are carefully planned on how to reach the markets and executed. The marketing function is responsible for developing marketing strategies. A marketing strategy is a statement of how a business intends to achieve its marketing objectives. A marketing objective includes two critical functions; selecting a target market and creating an appropriate mix for the market. A target market is a group of customers a business has decided to aim its marketing efforts and ultimately its merchandise towards. Consumers wants, needs, and business resources and strategies all contribute to the selection of a target market. A well defined target market is the first element of a marketing strategy. Identifying the
