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Marketing element referring to what goods, services, or ideas a business will offer its customers
Product
A marketing strategy that involves offering several products for sale as one combined product
Bundling
A company’s blueprint for success
Business plan
The physical and social characteristics of the population
Demographics
A fact about or characteristic of a product
Feature
An objective or want that you plan to fulfill
Goal
The extent to which a product is available to purchase
Coverage
A marketing/business function that is responsible for moving, storing, locating, and/or transferring ownership of goods and services
Distribution
A marketing tool that investigates a business’s strengths, weaknesses, opportunities, and threats in an organized fashion
SWOT analysis
Marketing element referring to the various types of communications that marketers use to inform, persuade, or remind customers of their products
Promotion
The particular group of customers a business seeks to attract
Target market
The rank of a particular business in a specific market
Market position
An organization’s portion of the total industry sales in a specific market
Market share
The goals a firm seeks to achieve with its marketing plan
Marketing objectives
Plan of action for achieving marketing goals and objectives
Marketing strategy
An arrangement that involves two or more businesses entering into a relationship by combining complementary resources, such as technology, skills, capital, or distribution channels, for the benefit of all parties
Joint venture
A set of procedures or strategies for attracting the target customer to a business
Marketing plan
A brief summary of what a business owner wants their business to be doing
Mission statement
A marketing strategy designed to keep market share the same
Stability strategy
A company that is entirely owned or controlled by a parent company
Subsidiary
A determination of a firm’s current business situation and the direction in which the business is headed
Situation analysis
The most important part of a company’s business or marketing plan because it gives an overview of the entire document; often used to determine whether it is worthwhile to read any further
Executive summary
A marketing strategy a company uses when taking a product off the market
Market exit strategy
A segment added to the end of a document; includes supporting information
Appendix
A marketing strategy intended to increase market share or sales
Growth strategy