Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Question
create monitoring systems to ensure the successful implementation of a marketing strategy.
Expert Solution
Background
A marketing strategy can be denoted as the overall plan that an organization utilizes to reach every prospective customer to make them actual customers of its products.
The competitive forces that are prevailing in the industry comprise suppliers, customers, potential entrants, and substitutes. The combination of the five forces is responsible for the competition that exists in the market and the profitability ratios.
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