Inany business, whether vast or small, the marketing strategy is thebasis of a marketing plan. Marketing strategy can be defined as thefirm’s strategy, which integrates all the marketing objectives ofthe organization into a single inclusive plan. If a firm wants tohave a better marketing strategy, then it should planned from marketresearch, which will have its main emphasis on the correct productmix so as to realize the high probable profit as well as maintain thebusiness. On the other hand, marketing mix is basically a strategicmix of the controllable elements of a service’s or product’smarketing plan. It is commonly known as 4Ps which are product,price, place and promotion (Kotler, 2000).
Asnoted by Kotler 2000), marketing strategy and marketing mix arebasically the same. However, there are some slight differencesbetween the two. Marketing strategy combines all the firm’smarketing goals whereas marketing mix comprises of the 4Ps. Marketingmix focuses on the product or service whereas marketing strategy hasits main focus on the whole firm. Marketing strategy focus on thedirection of the whole organization whereas marketing mix isbasically employed to execute the overall marketing strategy.
Inmarketing, a target market is a group of clientele that anorganization directs its marketing efforts to, as well as itscommodities (Kotler, 2000). A people in this classroom are a targetmarket for fast foods and internet services. We are all a targetmarket to food items as well as transport services. This is becausethe two are basic needs and it is impossible for one to do withoutthem.
Anattractive opportunity is simply a chance to take advantage ofcertain offers, which may end up in an advantageous result (Kotler,2000). On the other hand, breakthrough opportunity isanextremelymomentouscreationor enhancement in performance, which isattained via unswerving, intensive and synergicworks. Breakthroughopportunities are highly profitable for a long time. When you get anapproval for the proposal that you have been working on for quite awhile, then that is termed as breakthrough opportunity. Anotherbreakthrough example is when a newly invented product penetrates themarket and gains momentum to produce high profits.
Kotler,P. (2000). Marketingmanagement(Millennium ed.). Upper Saddle River, N.J.: Prentice Hall.