Question | Answer |
strengths, weaknesses, opportunities, threats | SWOT analysis |
analysis of outside influences that may impact | environmental scan |
formal, written document that directs company activity | marketing plan |
brief overview of the marketing plan | executive summary |
study of internal & external factors that affect marketing strategies | situation analysis |
projection of probable, future sales in units or dollars | sales forecasts |
IDs target markets & sets marketing mix choices that focus on those markets | marketing strategy |
expectation that reflects the plan's objectives; measuring stick | performance standard |
classifying people in a market into even smaller groups | market segmentation |
stats that describe a population by characteristics; age, gender, income, education, etc. | demographics |
money left after taxes | disposable income |
money left after paying basic living expenses like food, clothing, shelter | discretionary income |
segmentation of a market based on where people live | geographics |
grouping people with similar lifestyles, attitudes, opinions, values | psychographics |
using one marketing strategy to reach all customers | mass marketing |
something that helps bring about a result | factor |
the skills and knowledge used by people to make tools and do work | technology |
Anything relating or belonging to the outside. | external |
situated or occuring within or on the inside | internal |
skills that you are good at, or qualities that you have that are good | strengths |
skills that you are not good at, or qualities that you have that are not good | weaknesses |
chances to do something | opportunities |
the broad range of forces capable of producing adverse consequences | threats |
A way of thinking or feeling about certain things. | attitude |