Which term describes the overall strategy a company uses to market its products or services?

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Prepare for the UCF MAR3407 Exam. Study with flashcards and multiple choice questions, each question has hints and explanations. Master Integrated Marketing and Sales.

The term that best describes the overall strategy a company uses to market its products or services is "marketing plan." This encompasses a comprehensive framework that outlines the marketing goals, target audience, marketing mix (product, price, place, promotion), and the specific tactics that will be employed to reach those goals. A marketing plan acts as a roadmap for the company's marketing efforts, helping to align various marketing activities with business objectives and ensuring consistency in messaging and branding.

While a sales strategy focuses specifically on how to sell products and services, such as sales tactics, training, and channel management, it is just one component of the broader marketing plan. Customer relationship management refers to strategies for managing a company's interactions with current and potential customers, primarily concerned with customer retention and satisfaction rather than overall marketing strategy. Operational tactics involve the specific actions taken to implement parts of the marketing plan but do not encompass the strategic overview that the marketing plan provides.