Question

In the context of developing a marketing strategy, once you've identified your target market, your next step is to:

1) Conduct market research
2) Create a marketing plan
3) Implement marketing tactics
4) Analyze the competition

Answer 1

Once you identify your target market, the next step in developing a marketing strategy is to create a marketing plan that outlines goals, strategies, tactics, and implementation.

Step-by-step explanation:

Once you've identified your target market in the context of developing a marketing strategy, your next step is to create a marketing plan. A marketing plan is a comprehensive document that outlines the goals, strategies, and tactics you will use to reach and engage your target market effectively. It includes elements such as market research, competitive analysis, target audience segmentation, positioning, pricing, promotion, and distribution channels.

Creating a marketing plan involves conducting further analysis of your target market and competition, setting specific objectives and goals, determining the appropriate marketing mix (product, price, place, and promotion), and developing a timeline and budget for implementation.

Once you have a well-developed marketing plan in place, then you can move on to implementing the marketing tactics outlined in your plan, which may include advertising, public relations, social media, content marketing, events, and more. The effectiveness of these tactics can be continuously monitored and analyzed to optimize your marketing efforts.