Terms in this set (33)
communciation that informs persuades or reminds consumers about your businesses product
the amount of money a business asks in exchange for its products
goods or services offered to customers
getting your product in the right place at the right time
plan of action to carry out goal
A customer or potential customer who has an unfulfilled desire for your product and is willing and able to satisfy that desire.
A specific group of customers that a business seeks to attract, usually with similar needs and characteristics.
designing products and directing marketing activities to appeal to the whole market, which is everyone.
dividing the total market into smaller, more specific groups.
dividing based on gender, origin, religion, social/economic status, and life stage
dividing the market based on where their markets are located.
dividing based on a customer's response to a product. How does the product benefit them and loyalty?
division of a market based on the consumer's lifestyle and personality.
- a written document that specifies how, where and to whom a business plans to market its product(s) and/or brand(s).
An evaluation of the market for a company's goods and services.
Target Segment's Needs
Why do customers need the product/service?
Where do customers need the product/service?
What factors influence the target market to buy?
How will you communicate with the customers?
Positive qualities, capabilities and resources that are within the business
Negative qualities or shortcomings from within the business.
Any favorable situation in the environment surrounding your business.
Any unfavorable situation in the environment surrounding your business.
a brief overview of the marketing plan
assessment of where the organization currently stands internally and externally. SWOT
Desired Target Market
A full specific description of the target market the business wants to reach
Marketing Goals and Objectives
defines what the business hopes to accomplish
Marketing strategies and programs
details about the business's marketing mix
details on the expected expenses and profits of the plan's programs
Performance and implementation
explain how the plan's progress will be measured
Evaluation and control section
performance standards against which to measure the marketing plan and company performance
includes charts, graphs, or misc. materials related to the marketing plan
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Marketing key terms
Lesson 1: Introduction to Marketing
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