Marketing / Forecasting WOB Test Flashcards Preview

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Flashcards in Marketing / Forecasting WOB Test Deck (12):
1

Need

Something that's essential to survival

2

Want

Something you don't need

3

Marketing Strategy

Overall plan for marketing a product

4

What 3 things does marketing strategy include

Target market segment
Positioning Strategy
Marketing Mix

5

What are the 4 Ps of marketing

Product
Price
Place
Promotion

6

What does SWOT stand for?

Strength
Weakness
Opportunity
Threats

7

Forecasting is used for...

Business decision making in all disciplines

8

Marketing Potential

Maximum total sales that a product could have

9

Sale Forecast

What you think you will have

10

What are some of the product dimension sensitivities in Mikes Bikes? Name 4

Price
Advertising
Public Relations
Quality

11

How can you determine forecast demand in Mikes Bikes?

By looking at actual demand for the previous year

12

How do you determine market potential in Mikes Bikes?

By looking at the market forecast for the upcoming year

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