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3.03 marketing plan
| Term | Definition |
|---|---|
| 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 |
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IKJ1526861
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