Marketing Plan

market segmentation based on statistics of a population in terms of personal characteristics

classifying peole who form a market into smaller groups

An internal analysis focuses on company, competition

market segmentation based on where people live

The four factors used to segment a market are geographics, demographics, buying behaviors

grouping people with similiar lifestyles, opinions, values, and attitudes

using a single marketing strategy to reach ALL people

A customer characteristic used to segment a market is called a behavioral variable

During a SWOT analysis, the internal analysis focuses on a companies

formal written document that directs company's activities for a specific time period

money left after taking out taxes; pays for products of necessity (needs)

analyzing outside influences that may impact an organization

What is the goal of market segmentation?

A PEST analysis is an analysis of company internal strengths & weaknesses

Critical examination by a business of itself and its business environment

During a SWOT analysis, the external analysis focuses on

Provides an overview of the marketing plan & explains cost involved in implementation

study of internal & external factors affecting marketing strategies

identifies target markets;sets marketing mix choices focusing on those markets

money left over after paying for basic living necessities; pays for luxury and premium products (wants)