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