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DECA Vocab.CH.2

QuestionAnswer
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.
Created by: fernando73
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