| A | B |
|---|
| Geographics | segmentation by where people live |
| Market segmentation | separating large groups into smaller, more precise groups |
| X | This generation most appreciates advertising that includes images, humor and hip music |
| demographics | Characteristics like ethnicity, age, gender, income |
| place | 4p about the location of a business or where a business choose to locate its products |
| 4 basic marketing decisions | Product place price promotion |
| Psychographics | values and attitudes and lifestyles...things that people enjoy doing |
| marketing plan | a formal written document which directs activities for a specific time |
| database technology | businesses can use this to provide products to a specified target market |
| time frame | this will help you know when your objective has been reached by when it was supposed to |
| discretionary income | used to purchased extras...not necessities |
| Company analysis | The company review of staff, financial, production, and marketing mix can be found in this section of the marketing plan |
| Economy | the current state of this is important to businesses |
| performance standard | expectations that reflect marketing plan objectives |
| recession | during these times businesses cut back on everything including research and new facilities |
| disposable income | money left after taxes |
| implementation | putting a marketing plan into action and managing it |
| executive summary | brief overview of entire marketing plan |
| PEST | Political, economic, socio-cultural, and technological are the four areas of this analysis |
| Caucasian | The ethnic group that is declining compared to others |
| External Opportunities | Being alert to changes in laws that would be beneficial to your company would be an example of THIS (Good chances for businesses) |
| Demographics-Ethnicity | How a company is segmenting the market if by Hispanic, Asian, etc |
| Y | the generation that gathers info from the Internet AND is most racially and ethnically diverse |
| Outside | a PEST analyzes THESE influences in an organization |
| Marketing Mix | combination of four strategies used to market a product |
| Psychographics | If one is targeting interests such as music, dance for sending catalogs it is considering this segementation factor |
| Market Segmentation | Information about things like ethnic backgrounds and income can help facilitate THIS dividing up of the market |
| Customer Profile | In order to create one of THESE you would need to look at a customer's geographic, demographic, and psychographic information |
