Final answer:
A marketing strategy must be both achievable and appropriate, employing tools like algorithms for consistency and effectivity in reaching marketing goals. As circumstances change, strategies need review and adjustment.
Step-by-step explanation:
A marketing strategy is the approach a company takes to achieve its marketing goals. While there are many complexities and potential strategies for achieving a marketing goal, two factors commonly characterize an effective marketing strategy. These are that the strategy must be achievable and appropriate to the goals set by the company.
For instance, when a company sets a goal to increase market share, it must devise a strategy based on achievable steps. This may involve using algorithms to analyze market data to inform decisions and may require an appropriate allocation of resources, such as time, money, and effort, that align with the company’s strengths to target the desired customer base effectively.
Marketing strategies often must navigate multiple goals, imperfect information, and assessments that may not always be accurate. Hence, these strategies require regular review and adjustment as circumstances change, leveraging tools like algorithms which provide step-by-step guidance analogous to recipes that yield consistent results when seeking to achieve marketing objectives.