| A | B |
|---|
| Balance Sheet | indicates the current value of the company |
| Budget | Details the financial impact of each part of the marketing plan |
| Competition | A rivalry between two or more businesses selling products or services to the same customers or markets |
| income statement | A record of profit or loss |
| Marketing plan | A written document that provides direction for the marketing activities for a specific period of time. |
| Mission statement | A written statement that captures an organization's purpose, customer orientation and business philosophy. |
| Situation analysis (SWOT) | Provides information that is helpful in matching the organization's resources and capabilities to the competitive environment in which it operates. |
| Market Share | A key indicator of how well one company is performing against competitors within the marketplace. |
| Direct Competition | occurs between sellers of similar products and services. |
| Indirect competition | occurs between sellers who compete for the same share of consumers' discretionary income. |
| Mission Statement | A written statement that captures an organization's purpose, customer orientation and business philosophy. |
| Strengths | Resources and capabilities that can be used as a basis for developing a competitive advantage. |
| Weaknesses | Qualities that give a business a competitive disadvantage |
| opportunities | Events that could facilitate company profit and growth. |
| threats | Events that could have a negative impact on the company. |
| forecast | predicts the costs of expenses as well as anticipated revenue. |
| Distribution Strategy | Outlines how the company's products will get to the consumer. |
| Pricing | Takes into consideration cost to produce as well as estimated demand. |
| Marketing information management | This component looks at competitors, potential customers, and characteristics of the target market. |
| Risk management | This component of the marketing plan looks at the legal liability the company could face as well as laws that affect marketing strategies. |
