Which component is NOT part of a strategic marketing plan?

The correct choice highlights that building customer loyalty, while a significant aspect of marketing, is not specifically a component of a strategic marketing plan in the same way as the other elements listed. A strategic marketing plan focuses on high-level decisions that guide a company's marketing efforts.

Developing the appropriate marketing mix, conducting a SWOT analysis, and choosing a target market are all foundational parts of a strategic marketing plan. The marketing mix—comprising product, price, place, and promotion—determines how a company positions its products and communicates with its audience. A SWOT analysis enables organizations to assess their strengths, weaknesses, opportunities, and threats, which is crucial for making informed decisions about strategic objectives. Choosing a target market is essential as it identifies the specific group of consumers the marketing strategy is aimed at, ensuring efficient use of resources and more effective messaging.

While customer loyalty strategies can indeed influence marketing effectiveness, they are often outcomes of successful execution of the strategic marketing plan rather than components of the plan itself. Building customer loyalty typically falls under tactical marketing efforts rather than the strategic planning process, which emphasizes positioning and analysis over loyalty-building techniques.