Vocabulary 4.1
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Created by:
surayawdaa on January 14, 2012
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12 terms
Terms | Definitions |
|---|---|
 Asset-led Marketing | A business strategy based on the core strengths of a firm |
| Market Leaders | Firms that dominate the market share in a particular market. |
| Market Orientation | An approach adopted by businesses that are outward looking. They focus on making products that they can sell rather than products they can make. |
| Market Share | Measures the value of a firms sale revenue as a percentage of the industry total. |
| Market size | Magnitude of the industry. |
| Marketing | Management role of predicting, identifying and meeting the needs and wants of customers in a profitable manner. |
| Marketing Audit | A review of a firm's current marketing mix in the terms of strengths, weaknesses, opportunities and threats. |
| Marketing Mix | The main elements of a firms marketing strategy. |
| Marketing Plan | The document outlining a firm's marketing objectives and strategies for a specified time period. |
| Marketing Strategy | Any medium-to long-term plan for achieving the marketing objectives of a business |
| Product Orientation | Marketing approach adopted by a business that are inward looking |
| Social Marketing | Any activity that seeks to influence social behavior to benefit the target audience and society as a whole |
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