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| Question | Answer |
|---|---|
| SWOT analysis | a study undertaken by an organization to identify its internal strengths and weaknesses, as well as its external opportunities and threats. |
| PEST analysis | Political, Economic, Social, and Technological factors of the external macro-environment |
| Marketing plan | comprehensive document or blueprint that outlines a business advertising and marketing efforts for the coming year. |
| Executive summary | a short document or section of a document, produced for business purposes, that summarizes a longer report or proposal or a group of related reports in such a way that readers can rapidly become acquainted with a large body of material without having to r |
| Situation analysis | refers to a collection of methods that managers use to analyze an organization's internal and external environment to understand the organization's capabilities, customers, and business environment. |
| marketing strategy | section of your business plan that outlines your overall game plan for finding clients and customers for your business. |
| Sales Forecast | process of estimating future sales. |
| Performance standard | management-approved expression of the performance threshold(s), requirement(s), or expectation(s) that must be met to be appraised at a particular level of performance. |
| Market Segmentation | dividing a market of potential customers into groups |
| Demographics | statistical data relating to the population and particular groups within it. |
| disposable income | income remaining after deduction of taxes and other mandatory charges, available to be spent or saved as one wishes. |
| Discretionary Income | income remaining after deduction of taxes, other mandatory charges, and expenditure on necessary items. |
| Geographic | based on or derived from the physical features of an area. |
| psychographics | qualitative methodology used to describe consumers on psychological attributes. |
| mass marketing | market (a product) on a large scale. |
| factors | market where factors of production are bought and sold, such as the labor market, the physical capital market, the market for raw materials, and the market for management or entrepreneurial resources. |
| technology | knowledge of techniques, processes, and the like, or it can be embedded in machines to allow for operation without detailed knowledge of their workings. |
| ranges | Range refers to the difference between the low and high prices for a security or index over a specific time period. |
| Attitudes | a settled way of thinking or feeling about someone or something, typically one that is reflected in a person's behavior. |
| Your company needs you to figure out the best place to build a dig site for an oil well. | Problem Solving |
| The objective statement of your resume does this | states your goal |
| f your GPA is good, what section of the resume should it go under? | education |
| If you helped DECA with Habitat for Humanity, what section of the resume would that go under? | Volunteer work |
| You could have had an accident and instead of complaining you just “bounce back” | resilient |
| the projection of probable, future sales in units or dollars | Sales Forecast |
| the study of the internal and external factors that affect marketing strategies | Discretionary Income |
| a brief overview of the entire marketing plan | Executive Plan |
| statistics that describe a population in terms of personal characteristics such as age, gender, income, marital status and ethnic background | Demographics |
| the process of classifying people who form a given market into even smaller groups | Marketing Segmentation |
| an expectation for performance that reflects the plan's objectives | Performance Standard |
| Tangible Items | Goods |
| Intangible items | Services |
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