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Well, you can go after the longer phrases, but realistically, you have too look at what people are typing into the searchboxes. In all honesty, I'd go after the local market first
<title>Yourtown Website Promotion</title>
<title>Yourtown Website Marketing</title>
From there, vary the phrases to capture all the natural phrases that people type into the engines.
From an optimization standpoint, it is much easier to optimize a page for two words than it is for 4 main keywords. In your case, you end up with two phrases competing on the same page. Give both equal billing and dilute the density by half. Incoming anchor text needs to be longer to be as effective, internal anchors need to be longer...
I prefer short, focused pages. Sometimes that means finding many different ways to say the same thing.
I always use 'keyword1, keyword 2 etc. - mytown, mycountry' and try and aim for 70 characters or less. If I go slightly over then the country keyword may not influence the search results but my footer SSI file has 'mytown, mycountry' in it anyway so it's no big deal.
[edited by: WebGuerrilla at 2:18 am (utc) on Jan. 5, 2003]
[edit reason] member requested typo edit [/edit]