Marketing Ch.2 Quiz Flashcards
Questions that are part of a company’s internal analysis are about what a company does well and what areas are weak.
Company Analysis
An analysis of outside influences that may have an impact on an organization
Environmental Scan
A formal, written document that directs a company’s activities for a specific period of time.
Marketing Plan
A brief overview of the entire marketing plan
Executive Summary
The study of the
internal and external factors that affect marketing strategies.
Situation Analysis
The projection of probable,
future sales in units or dollars)
Sales Forecasts
identifies target markets and sets marketing mix choices that focus on those markets.
Marketing Strategy
An expectation for performance that reflects
the plan’s objectives.
Performance Standard
The process of classifying people who form a
given market into even smaller groups
Market Segmentation
Refer to statistics that
describe a population in terms of personal characteristics such as age, gender, income, marital status, ethnic background, education, and occupation.
Demographics
The money left after taking out taxes.
Disposable Income
The money left after paying for basic living necessities such as
food, shelter, and clothing.
Discretionary Income
Refers to segmentation of the market based on where people
live.
Geographics
Involves grouping people with similar lifestyles, as well as shared
attitudes, values, and opinions.
Pschographics
Involves using a single marketing strategy to reach all customers.
Mass Marketing
