Term
| Step 1: Situation(SWOT) Analysis |
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Definition
| Taking stock of where the firm or product has been recently, where it is now, and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it. |
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Term
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| an acronym describing an organization's appraisal of its internal Strengths and Weaknesses, and its external Opportunities and Threats. |
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Term
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Definition
Based on the study of four areas:
-Identify trends in the organization's industry.
-Analyze the organization's competitors.
-Assess the organization itself.
-Research the organization's present and prospective customers |
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Term
| Step 2: Market-Product Focus and Goal Setting |
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Definition
| Based on market segmentation, which involves aggregating the prospective buyers into groups, or segments that have common needs and will respond similarly to a marketing action. It enables the company to identify the segments on which it will focus its efforts and develop specific marketing programs to reach them. |
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Term
| Step: 3 Marketing Program |
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Definition
| Develops the program's marketing mix(the 4 p's) and its budget. |
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Term
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Definition
| Provide the benefits, tangible & intangible, consistent with chosen positioning and target segment. |
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| Product revenue(capture consumer value). communicate value to the customer, provide incentives to the channel, establish barriers to entry |
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Definition
| Build awareness and get distribution, convey information, develop positive associations/identity, increase intent to purchase. |
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Definition
| Match channel services to target market needs', motivate and manage channel members', collect information about end users. |
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Definition
| Design the marketing organization, obtain resources, develop tactics and schedules |
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Definition
| Compare results with plans to identify deviations, exploit a positive deviation, and correct a negative deviation. |
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