Chapter 2 Marketing Plan - v2

Front

Task of evaluating both internal and external environments related to marketing and sales.

Back

Situation Analysis

Front

External factors that can jeopardize a startup's growth or ability to make a profit.

Back

Threats

Front

What internal factors could place a startup at a disadvantage relative to competitors?

Back

Weaknesses

Front

External factors that could provide opportunities for a company to increase profits are referred to as?

Back

Opportunities

Front

What internal factors could give a startup a competitive advantage?

Back

Strengths of their startup

Front

Evaluating political, economic, social, and technological factors impacting a business.

Back

PEST Analysis

Front

William has started a new business and is trying to position his product in the market. The goal of his product positioning is to:

• Convince customers that his product is better than the competition in some way
• Determine the type of customers to whom his product will be marketed
• Define the tactics to be used to market his product
• Identify the best opportunities for making new and repeat sales

Back

Convince customers that his product is better than the competition in some way

Front

What is the standard used to measure the success of an email campaign, such as the click-through rate?

Back

Hard metrics

Front

Specific activities a company needs to perform to carry out marketing strategies are referred to as:

Back

Marketing tactics

Front

Decisions about the ________ are crucial and will be found in the marketing strategies section of a business plan.

Back

Marketing mix