What term represents the identification of target markets and the setting of marketing mix choices?

The term that represents the identification of target markets and the setting of marketing mix choices is marketing strategy. A marketing strategy encompasses a comprehensive plan that outlines how a business intends to reach its target audience and achieve its marketing objectives. This includes determining who the target markets are—essentially segmenting the audience based on various demographics, interests, or behaviors—and then crafting a marketing mix that involves decisions about product, price, place, and promotion to effectively reach and engage those markets.

In contrast, a promotional plan focuses specifically on the tactics used to convey messages to the target audience, rather than the broader strategy of identifying that audience in the first place. A sales strategy is more geared towards tactics for selling products or services and involves specific activities aimed at closing sales, often more directly related to the sales team rather than overarching market identification. Brand strategy generally involves the development and management of a brand’s identity and perception among consumers but does not encapsulate the entire process of defining target markets and marketing mix decisions. Thus, marketing strategy is the most comprehensive term for these activities.