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DECA Vocab.CH.2
Question | Answer |
---|---|
Marketing Plan | A formal written document communicating the goals, objectives, and strategies of a company. |
Executive Summary | A brief overview of an entire marketing plan. |
Situation Analysis | The study of the internal and external factors that affect marketing strategies. |
Marketing Strategies | Identification of target markets and determination of marketing. |
Sales Forecasts | The projection of probable future sales in units or dollars. |
Performance Standards | An expectation of performance that reflects a company's goals and marketing plan objectives. |
Market Segmentation | The process of analyzing and clarifying customers in a given market to create smaller,more precise target markets. |
Demographics | Statistics that describe a population in terms of personal characteristics such as age, gender,income, martial status, ethnicity, education, and occupation. |
Disposable Income | The money left over after taxes are taken out of a consumer's income. |
Discretionary Income | The money left over from a consumer's income after paying for basic living necessities such as food, shelter, and clothing. |
Geographics | Segmentation of the market based on where people live. |
Psychographics | Studies of consumers based on social and psychological characteristics. |
Mass Marketing | Use of a single marketing plan to reach all consumers. |