What is most likely the first major marketing decision that a retailer must take?

Question

BlackTom AI · Accepted Answer

To understand the sequence of strategic marketing decisions, we begin by defining who the retailer will serve. 
Option: promoting — Promotion is a communication activity that comes after you decide what to offer and to whom; it is not the first major decision in the process. Treating promotion as the initial step would ignore audience definition and value proposition. 
Option: position­ing — Positioning involves how the retailer wants customers to perceive the store relative to competitors, which depends on identifying target customers and what those customers value. It's a later step after you’ve segmented and chosen target areas to compete in. 
Option: targeting — Targeting selects which of the segmented groups to pursue, but you only have meaningful segments to target after you have performed segmentation in the first place. Without segmentation, targeting cannot be properly defined. 
Option: differentiation — Differentiation concerns how the retailer’s offering stands apart from competitors within the chosen segments. It relies on having defined segments and a targeting approach, so it is not the initial decision. 
Option: segmenting the market — Segmenting the market is the foundational step that breaks the market into meaningful groups with shared characteristics, enabling subsequent decisions about which segments to serve, how to position, and how to tailor promotions. In most marketing frameworks, segmentation precedes targeting, positioning, and the other activities. 
Overall, the logic follows the sequence: identify segments (segmentation), choose segments to serve (targeting), decide how to compete in those segments (differentiation and positioning), and then communicate (promotion).

Test: Exam 3

What is most likely the first major marketing decision that a retailer must take?

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