What are components of an effective marketing strategy?

Market size & potential, Key competitors, Choose target market, Develop objectives for each opportunity, Choose marketing mix elements

Marketing strategy is a process where you have to:

1. Understand your customers

2. Do SWOT analysis

3. Check competition

4. Research distribution

5. Define Marketing Mix

6. Do financial analysis

7. Review it

marketing research and analysis, focusing on target market (market place focus), product focus, pricing strategy, promotional activities, evaluating market response, contingency plan