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Terms in this set (22)
center around government involvement in business operations
if the economy is robust, businesses are more likely to invest in new products and markets. If the economy is in recession, it has an opposite effect on the company
based on customers and potential customers
changing technology can be a threat to one company, but an opportunity for others.
Strengths & Weaknesses
Strengths, Weaknesses, Opportunities and Threats
Opportunities & Threats
Company, Competition, and Customers
is the scanning of outside influences on an organization. This analysis includes four factors
is a formal, written document that directs a company's activities for a specific period of time.
Brief overview of the entire marketing plan
the study of internal and external factors
identifies target markets and sets marketing mix choices
projection of future sales in dollars
"measuring stick," the expectation for performance that reflects the plan's objective.
Section of the marketing plan that includes supplemental materials; financial statements, sample ads, etc.
the process of classifying people who form a given market into even smaller groups.
involves using a single marketing strategy to reach all customers
Narrows and defines a market with extreme precision, which will increase a products success
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