Marketing Plan
a written document that provides direction for the marketing activities for a specific period of time.
Marketing Plan
What does SWOT stand for?
Strengths, Weaknesses, Opportunities, Threats
groups consumers according to their personality traits, values, lifestyles, interests and opinions.
Psychographic Segmentation
This provides an overview of the complete marketing plan
The Executive Summary
The process of breaking down the total market into smaller parts based on specific characteristics
Market Segmentation
This is a marketing strategy design to simply "appeal to everyone"
Mass Marketing
To save time and money, a marketing research team uses data that have already been gathered for some other purpose. Which type of data is the team using?
Secondary Data
The percentage of total sales in an industry generated by a particular company.
Market Share
A personalized fictional character created to represent your ideal customer/consumer
Buyer Persona
a written statement that captures an organization’s values and general business philosophy.
Mission Statement
This section of the SWOT analysis is where you would place external factors that could be favorable to the business
Opportunity
Type of research used to find patterns and averages, make predications, and find correlation of numerical data
Quantitative Data
What should marketing objectives be according to the S.M.A.R.T. criteria?
Specific, Measurable, Action-oriented, Realistic, Time bound
Within the PEST analysis (external factors), encompassed in the SWOT analysis, where would the development of new production techniques fall?
Extra 500: name each of the 4 metrics in PEST
Technological environment
Political, Economic, Sociocultural, Technology
Consists of organizations that buy products and services:
•To make other products and services
•To resell to business users or to consumers
•To conduct the operations of the organization
Business to Business Market (B2B)