| A | B |
|---|
| Geographics | segmentation by where people live |
| Market segmentation | Info about things like ethnicity or income can help THIS dividing up of a market |
| X | This generation most appreciates advertising that includes images, humor and music |
| demographics | ethnicity, age, gender, income |
| place | 4p about the location of a business |
| 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 by using computer software to gather data and information |
| 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 |
| environmental scan | analysis of outside influences like political economic socio-cultural and technological |
| 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 plan |
| Generation Y | most ethnically and racially diverse generation |
| Political | This part of the environmental scan looks at regulations and law changes |
| Caucasian | The ethnic group that is declining compared to others |
| External Opportunities | Being alert to changes in laws and regulations might provide these (Good chances for businesses) |
| PEST | this analysis is political, economic, socio-cultural, and technological |
| Demographics-Ethnicity | How a company is segmenting the market if by Hispanic, Asian, etc |
| Y | the generation that gathers info from the Internet |
| Outside | a PEST analyzes THESE influences in an organization |
| Marketing Mix | combination of four strategies used to market a product |
