Question

The first part of the marketing strategy statement describes the target market; the planned product positioning; and goals for sales, profits, and ________.

A) market share
B) competition
C) secondary market
D) competition's anticipated reaction
E) life-cycle duration

Answer 1

The correct answer is market share, which is one of the typical components of a marketing strategy statement.

Step-by-step explanation:

The first part of the marketing strategy statement typically includes three key elements: the target market, the planned product positioning, and the goals for sales, profits, and market share. The target market identifies the specific group of consumers at whom the marketing efforts are directed. The planned product positioning describes how the company wants its product to be perceived in the minds of consumers relative to competing products. Lastly, goals for sales, profits, and market share are quantitative benchmarks the company aims to achieve, with market share specifically referring to the percentage of the total market that the company's product is expected to occupy.