Shared Flashcard Set

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The Winning Plan
N/A
22
Marketing
12th Grade
09/18/2013

Additional Marketing Flashcards

 


 

Cards

Term
Appendix
Definition
A segment added to the end of a document; includes supporting information
Term
Bundling
Definition
A marketing strategy that involves offering several products for sale as one combined product
Term
Business plan
Definition
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
Term
Coverage
Definition
The extent to which a product is available in stores
Term
Demographics
Definition
The physical and social characteristics of the population
Term
Distribution
Definition
A business function that is responsible for moving, storing, locating, and/or transferring ownership of goods and services
Term
Executive Summary
Definition
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
Term
Goal
Definition
An objective or want that you plan to fulfill; a statement that clearly describes a task to be accomplished
Term
Growth Strategy
Definition
A marketing strategy intended to increase market share or sales
Term
Joint Venture
Definition
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
Term
Market Exit Strategy
Definition
A marketing strategy a company uses when taking a product off the market
Term
Market Position
Definition
The rank of a particular business in a specific market
Term
Market Share
Definition
An organization’s portion of the total industry sales in a specific market
Term
Marketing Objective
Definition
The goals a firm seeks to reach with its marketing plan
Term
Marketing Plan
Definition
A set of procedures or strategies for attracting the target customer to a business
Term
Marketing Strategy
Definition
Plan of action for achieving marketing goals and objectives
Term
Mission Statement
Definition
A brief summary of what a business owner wants a business to be doing
Term
Price
Definition
Marketing element requiring marketers to determine the amount of money they will ask in exchange for their products
Term
Product
Definition
Marketing element referring to what goods, services, or ideas a business will offer its customers
Term
Promotion
Definition
A marketing function needed to communicate information about goods, services, images, and/or ideas to achieve a desired outcome
Term
Situation Analysis
Definition
A determination of a firm’s current business situation and the direction in which the business is headed
Term
SMART Goal
Definition
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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