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vocab words

TermDefinition
market segmenation the process of classifying people who form a given market into even smaller groups
demographics refer to statistics that describe a population in terms of personal characteristics (age,gender,income,martial status)
disposable income the money left after taking out taxes
discretionary income the money left after paying basic living necessities (food, shelter, clothing)
geographics refers to segmenation of the market based on where people live
psychographics involves grouping peopole w/ similar attitudes, interests, and opinions as well as lifestyles and shared values
mass marketing involves usign a single strategy to reach all customers
swot analysis sessment that lists & analyzes the companys strengths and weaknesses
pest analysis scanning of outside influences on an organzation
marketing plan is a formal written documents that directs a companys activities for a specific period of time
executive summary is a brief overview of the entire marketing plan
situation analysis study of the interal & external factors that affect marketing strategies
marketing strategy identifies target mrket & sets marketing mix choices that focus on those markets
sales forecast the projection of probable future sales in units or dollars) budgets, details of each activity
performance standard expectations for performance that reflects the plans objectives
Created by: drennenn
Popular Marketing sets

 

 



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