Chapter 2, Marketing Plan

SWOT Analysis
identifying internal strengths and weakness and examining external opportunities and threats.
Environmental Scan
A analysis of outside influences that may have an impact on an organization.
Marketing Plan
A formal written document communicating the goals, objectives and strategies of a company.
Executive Summary
a brief overview of an entire marketing plan.
Situation Analysis
study of internal and external factors that affect marketing strategies.
Marketing Strategy
IDs target market and set marketing mix choices that focus on those markets.
Sales Forecast
the projection of probable, future sales in units or dollars.
Performance Standard
an expectation performance that reflects a company goals and marketing plan objectives
Marketing Segmentation
the process of dividing the total market into groups whose members have similar characteristics.
Demographics
statistics that describe a population in term of personal characteristics such as age, gender, ethnicity, income and education.
Disposable Income
income available to you for saving or spending.
Discretionary Income
disposable income available for spending and saving after an individual has purchase the basic necessities of food, clothing and shelter.
Geo graphics
segmentation of market based on where people live
Psycho graphics
grouping people with similar lifestyles, attitudes, opinion and values.
Mass Marketing
use of a single marketing plan to reach all customers.