| A | B |
|---|
| marketing plan | A precisely written document that describes a company's situational analysis, marketing strategy and implementation plan for meeting company objectives. |
| Situational Analysis | An in depth look at the current conditions of the business, the competition, and the target customer |
| Marketing strategy | An idea for achieving marketing objectives that can be put into action. |
| Implementation Plan | The process of putting plans into action by carrying out strategies, assigning responsibilities, and establishing timelines. |
| Strengths | The characteristics of a business or product that give it an advantage over others, such as a superstar player. |
| Weaknesses | The characteristics of a business or product that place it at a disadvantage relative to others such as poor location. |
| Opportunities | External factors that a business could use to its advantage, such as changing demographics in the region. |
| Threats | External factors that could cause trouble for the business or product, such as a weak economy. |
| Demographics | A way to segment the market that helps you to visualize the customer. Examples are age, gender, income, education level, and/or occupation. |
| Psychographics | A way to segment the market to get know the people. Examples are lifestyle or values. |
| Geographic | A way to segment the market that will tell you where to find your customers. Examples of this could be urban vs. rural, people who live in the North, South, East and West portion of the US. |
| marketing intelligence | Information gathered about competitors. |
