The alternative is mass marketing; a product promoted to all segments of the market. An example of targeting can be found in the insurance industry. There are car insurance providers just for women. The gender has been split because women are statistically safer drivers, which is what insurance providers want. Positioning Positioning your product is very much in the mind of the consumer. It's the responsibility of the company to convey the segment and target audience they want.
For example, there are some car insurance companies targeting women by positioning their product using catchy jingles and pink cars. The marketing mix (7P's) Your marketing strategy will support your marketing mix (marketing plan). The marketing mix is a plan email list to focus your business, set standards and target specific markets. A marketing strategy will differentiate your brand from competitors whilst your marketing mix will enable you to focus your product in a specific market for a specific consumer.
Most companies think strategically but fail to put it down on paper. This is a hazardous approach when your business begins to grow and you employ staff. Everybody has a view of how a company should grow, but only the CEO or owner can guide the company and everybody else must follow their direction. A marketing strategy will guide the business in the short, medium and potentially long term too.