SWOT analysis
analyzes a businesses strengths, weaknesses, opportunities and threats
what is SWOT analysis?
refers to a framework that uses the four Ps of product, price, placement, and promotion.
what is the marketing mix?
the process of planning, pricing, promoting, selling and distributing goods or services which help satisfy a customer’s needs and wants
what is marketing?
revenue-expenses=profit
what is profit formula?
features and areas of your organization where you can perform better than your competitors in the industry
what is strengths?
applying promotional techniques to potential customers
what is promotion?
products the customer had not planned to buy but were at the right place at the right time; sales may be lost if customers do not see these items at the right place and right time
what are impulse items?
characteristics of a business that gives disadvantage relative to others
what is weaknesses?
an item or service offered by a company to meet the needs and wants of buyers
what is a product?
involves direct spoken communication between sellers and consumers
what is personal selling?
where a product or service is located
what is place?
similar group of consumers responding to the same marketing mix
what is market segment?
cost of a product or service
what is price?
involves promotional activities other than advertising, publicity and personal selling raising interest, trial or purchase by customers other channel members
what is sales promotions?