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3.03 marketing plan

TermDefinition
Appendix A segment added to he end of a document: including supporting information
bundling a marketing strategy that involves offering several products for sale as one combined product
business plan a companies blueprint for success
coverage the extent to which a product is available in stores
demographics the physical and social characteristics of the population
distribution a business function that is responsible for moving, storing, locating, and/or transferring ownership of goods or services
executive sumarry the most important part of a companies business or marketing plan because it gives an overview of the entire document; often used to determine whether it is worthwhile to ready any further
goal An objective or want that you plan to fulfill
growth strategy a marketing strategy intended to increase market share or sales
joint venture an arrangement that involves two or more business entering into a relationship by combining complementary resources such as technology, skills, capital, or distribution channels, for the benefit of all parties
Market exit strategy a marketing strategy a company uses when taking a product off the market
market position the rank of a particular business in a specific market
market share an organisations portion of the total market in their industry
marketing objectives the goals a firm seeks to reach with its marketing plan
marketing plan a set of procedures or strategies for attracting the target customers to a business
marketing strategy plan of action for achieving marketing goals and objectives
mission statement a brief summary of what a business owner wants a business to be doing
price the amount of money that a business asks for a product
product what goods or services a business offers
promotion how to communicate your product to your product market
situation analysis the businesses current situation and the direction that they are heading
SMART goal A goal that helps you identify exactly what you want to achieve and know
stability strategy A marketing strategy designed to keep market share the same
subsidary a company that is entirely controlled by a parent company
SWOT analysis A marketing tool that investigates a businesses strengths, weaknesses, opportunities, and threats.
Target market The particular group of customers a business seeks to attract
Created by: IKJ1526861