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Business Studies IGCSEPDF 119
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Advantages
● Reaches a global audience.
● Cost-effective and easily updated.
● Enables targeted advertising.
Disadvantages
● Overexposure can annoy customers.
● Risk of negative publicity spreading quickly.
A marketing strategy is a detailed plan that outlines how a business will use the four
elements of the marketing mix — Product, Price, Promotion, and Place — to achieve
specific marketing objectives.
These objectives can include:
● Increasing sales or market share.
● Entering or expanding in new markets.
● Maintaining customer loyalty and brand image.
● Extending the life of an existing product.
● Targeting a new market segment or niche.
A strong marketing strategy ensures that all decisions regarding the 4 Ps are integrated
and consistent with the firm’s overall goals and customer needs.
3.4 Marketing Strategy
Definition: