Shared Flashcard Set

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A WINNING PLAN
MP001
22
Marketing
9th Grade
09/17/2013

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
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 objectives:
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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