THE MIX
Marketing element focusing on getting a selected product in the right place at the right time
PLACE
An organizational function & set of processes for creating, communicating, & delivering value to customers & for managing customer relations
MARKETING
Sales forecasting that predicts sales for periods of three months to two years
INTERMEDIATE RANGE FORECASTING
The goods a business has in stock
INVENTORY
Facts that come from sources outside the business
EXTERNAL INFORMATION
Marketing element referring to selection of the various types of communications that marketers use to inform, persuade, or remind customers of their products
An organization’s portion of the total industry sales in a specific market
MARKET SHARE
A prediction of future sales over a specific period of time
SALES FORECAST
The money a business plans to spend on promoting its goods & services during a period of time
PROMOTIONAL BUDGET
A magazine or newspaper
PERIODICAL
A marketing function that involves determining and adjusting prices to maximize return and meet customers’ perceptions of value
PRICING
A ratio of net profit divided by net sales that reflects the profit per dollar of sales
PROFIT MARGIN
Sales forecasting that predicts sales for periods of less than three months
SHORT RANGE FORECASTING
An estimate of income and expenses for a particular period of time
BUDGET
The message channel used by a seller to promote a good, service, or idea
MEDIUM
Goals a company hopes to accomplish through its pricing strategies
PRICING OBJECTIVES
Features of the current marketplace
MARKET CONDITIONS
Specific selling goals set for members of the sales force
SALES QUOTA
The stages of goods & services from the time they are introduced on the market until they are taken off the market
PRODUCT LIFE CYCLE
Facts that come from sources inside the business
INTERNAL INFORMATION
Marketing element referring to what goods, services, or ideas a business offers its customers
PRODUCT DECISIONS
A customer/potential customer w/an unfulfilled desire & is able & willing to satisfy that desire
MARKET
Sales forecasting that predicts sales for periods of more than two years
LONG RANGE FORECASTING
Expenses directly associated with the creation of products
PRODUCTION COSTS
A point of reference
BENCHMARK