The first of two major components of developing a marketing strategy is to . a. select a target market b. determine a segmentation strategy c. perform sales analyses d. perform a business analysis e. develop a product

The first of two major components of developing a marketing strategy is to select a target market.

Explanation: After determining business products and services the business needs to identify the target market. Identifying the target market is the major step in developing a marketing strategy.

Steps to select a target market

Target market is actually those customers whom we want to sell our products.Concentrating on target market will make it easier to sell our products.Customers can be targeted on the basis of age,gender,income,occupation,educational level.Look at the competition that exist .Identify those areas that have been overlooked by our competitors.If business is already existing than identify those products and services which are bought by current customers and the benefits that they are getting from it.Finally target those customers who actually need your products and services.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.