Question

Although Starbucks, Dunkin' Donuts, and McDonald's all strive to provide a good cup of coffee and pastries to their respective target markets, the difference in who they target, how they design their marketing mix, and what they choose as the basis of building their competitive advantage is directly related to their own

Answer 1

Answer:

Marketing strategy.

Explanation:

Marketing strategy is a process of using the marketing mix to satisfy and attract consumer to make a profit for the organization, define as a set of objectives, policies, rules that guide over a time for marketing effort of the firm.

Is a long-term course of action designed to optimize allocation of the scarce resources at the disposal of a firm in delivering superior customer experiences and promote the interests of other stakeholders.

Steps of Marketing Strategy:

• Understand the customer

• Analyze the market

• Analyze the competitors

• Research and Distributions

• Defining the Marketing Mix

• Financial Analysis

• Review & Implementation