| A | B |
|---|
| SWOT analysis | an assessment of a company's strengths and weaknesses and the opportunities and threats that surround it; SWOT: strengths, weaknesses, opportunities, threats |
| environmental scan | an analysis of outside influences that may have an impact on an organization (political, economic, socio-cultural and technological) |
| 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 | the study of the internal and external factors that affect marketing strategies |
| marketing strategy | identification of target markets and determination of marketing mix choices that focus on those markets |
| sales forecast | the projectionof probable future sales in units or dollars |
| performance standard | an expectation of performance that reflects a company's goals and marketing plan objectives |
| market segmentation | the process of analyzing and classifying customers in a given market to create smaller, more precise target markets |
| demographics | statistics that describe a population in terms of personal charateristics such as age, gender, income, marital status, ethnicity, education, and occupation |
| disposable income | the money left over after taxes are taken out of a consumer's |
| discretionary income | the money left over from a consumer's income after paying for basic living necessities such as food, shelter, and clothing |
| geographics | segmentation of market based on where people live |
| psychographics | studies of consumers based on social and psychological characteristics |
| mass marketing | use of a single marketing plan to reach all customers |
| Baby Boomers | the 76 million babies born in the US between 1946 and 1964, as they get older their income and spending power increases, therefore they are prime targets for all types of products |
| Generation X | they followed the baby boomers, children of dual-career households or divorced parents, they have been bombarded with media from an early age, and are savvy purchasers and skeptical consumers. To reach this group, marketers must use sharp images, music, a sense of humor, and meet them on their own terms. |
| Generation Y | they are the sons and daughters of the later baby boomers. Generation Y aka Echo Boomers or Millennium Generation. This group is more racially and ethnicall diverse with a lot of spending power because of the internet. |
