Unit 1 Vocab
Marketing Plan
What is a written document outlining an organization’s marketing goals, strategies, and actions.
What are the 3 main terms in this category
What is goal, strategy, and tactic
Give an example of a promotional strategy
What is Social media ads, coupons, influencer marketing, or TV commercials.
True or False: Performance and Implementation is the longest section of a marketing plan.
What is False?
When do you complete the executive summary?
What is at the very end?
SWOT Analysis
What is a strategic planning framework used by organizations and individuals to identify internal Strengths and Weaknesses, and external Opportunities and Threats related to a specific project or business
Balancing value and satisfaction for the customer is part of which element of marketing?
What is Price?
Explain how the 4 Ps work together to create a cohesive marketing strategy.
What is Each “P” supports the others — Product satisfies needs, Price reflects value, Place ensures accessibility, and Promotion communicates benefits; all must align for success.
How long is the appropriate length for an Executive Summary?
What is one page?
What information is put in the Appendix of a marketing plan?
What is charts, graphs, and images not included in the earlier parts of the marketing plan
Marketing Objective
What is a specific, measurable goal a company aims to achieve through marketing efforts. (SMART Goal)
Diana is deciding how much of a product to order and which firms to involve in the process. She is working on the __________ element of the marketing mix.
What is Place?
How does product packaging contribute to marketing strategy?
What is It communicates brand identity and attracts consumer attention.
Before identifying your goal, what is the first step in creating a marketing plan?
What needs to be included in the title page of a marketing plan
What is School name, group member names, date, and title of the marketing plan.
Strategy
the overall approach (e.g., increase brand awareness through digital marketing)
A firm’s strategy is important because it shows
What is how its goal will be reached.
A luxury handbag brand is considering offering discounts during holiday sales. Which “P” does this affect, and what potential risk could it create for their brand image?
What is Price. Discounting may harm the brand’s perception of exclusivity and reduce its premium value.
How can poor implementation affect even a well-written marketing plan?
What is Without proper execution, timelines, or resource management, even strong strategies fail to produce desired results.
What external factor could force a company to change its marketing plan?
What is competitors, economy, trends, etc.
Tactic
What is the specific action (e.g., run targeted Instagram ads) to carry out the strategy
Describe the difference between a marketing strategy and a marketing tactic.
What is a strategy is the overall plan; a tactic is the specific action used to carry it out.
A new energy drink targets athletes but is only sold in convenience stores. Which part of the 4 Ps may be limiting the product’s success, and why?
What is Place. The product’s distribution doesn’t align with where athletes primarily shop (e.g., gyms, sporting goods stores).
A company’s marketing plan lists vague goals like “increase sales.” Rewrite this goal to make it a SMART objective.
What is _______________________
A startup spends most of its budget on advertising but hasn’t defined its target market or pricing strategy. Which sections of its marketing plan are missing
What is "Desired Target Market" and "Strategies & Programs"