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| Appendix: A segment added to the end of a document; includes supporting information |
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| Bundling: A marketing strategy that involves offering several products for sale as one combined product |
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| Business plan: A company’s blueprint for success; shows how the business works now and how it is intended to work in the future; the written business model |
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| Coverage: The extent to which a product is available in stores |
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| Demographics: The physical and social characteristics of the population |
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| . Distribution: A business function that is responsible for moving, storing, locating, and/or transferring ownership of goods and services |
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| . Executive summary: The most important part of a company’s business or marketing plan because it gives an overview of the entire document; often used to determine whether it is worthwhile to read any further |
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| Goal: An objective or want that you plan to fulfill; a statement that clearly describes a task to be accomplished |
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| Growth strategy: A marketing strategy intended to increase market share or sales |
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| Joint venture: An arrangement that involves two or more businesses entering into a relationship by combining complementary resources such as technology, skills, capital, or distribution channels, for the benefit of all parties; the relationship is usually short-term or for a single project/transaction |
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| Market position: The rank of a particular business in a specific market |
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| Market share: An organization’s portion of the total industry sales in a specific market |
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| Marketing objectives: The goals a firm seeks to reach with its marketing plan |
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| . Marketing plan: A set of procedures or strategies for attracting the target customer to a business |
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| Marketing strategy: Plan of action for achieving marketing goals and objectives |
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| . Mission statement: A brief summary of what a business owner wants a business to be doing |
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| . Price: Marketing element requiring marketers to determine the amount of money they will ask in exchange for their products |
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| . Product: Marketing element referring to what goods, services, or ideas a business will offer its customers |
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| Promotion: A marketing function needed to communicate information about goods, services, images, and/or ideas to achieve a desired outcome |
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| Situation analysis: A determination of a firm’s current business situation and the direction in which the business is headed |
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| SMART goal: A goal that helps you identify exactly what it is you want to achieve and know for sure when you’ve achieved it; made up of specific, measurable, attainable, results-oriented, and time-bounded goals |
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