Which of the following statements regarding marketing strategies is FALSE?
A. These strategies must meet the needs of target customers, and a firm is likely to get a competitive advantage if it just meets needs in the same way as some other firm.
B. These strategies require decisions about the specific customers the firm will target and the marketing mix the firm will develop to appeal to that target market.
C. It is useful to think of the marketing strategy planning process as a narrowing-down process.
D. Developing successful marketing strategies does not need to be a hit-or-miss proposition.
A company doesn't get ahead by doing the same thing that other companies do.
The false statement regarding marketing strategies is:
D. Developing successful marketing strategies does not need to be a hit-or-miss proposition.
To identify the FALSE statement regarding marketing strategies, let's analyze each option:
A. This statement emphasizes the importance of meeting the needs of target customers for a firm to gain a competitive advantage. It is a true statement because a firm that only meets needs in the same way as another firm wouldn't necessarily have a competitive advantage. Therefore, option A is a true statement.
B. This statement suggests that marketing strategies involve decisions about target customers and developing a marketing mix. This is a fundamental aspect of marketing strategies, and it is a true statement.
C. This statement characterizes the marketing strategy planning process as a narrowing-down process. This is also a true statement because during the planning process, companies often start with a broad range of possible strategies and gradually narrow them down to the most effective and feasible options.
D. This statement claims that developing successful marketing strategies doesn't have to be a hit-or-miss proposition. This implies that developing marketing strategies can be done systematically and reliably. This is a true statement as well because marketing strategy development involves research, analysis, and careful planning to increase the chances of success.
After evaluating all the options, we can conclude that there is no FALSE statement among them. All statements are true.