Chapter 2 Marketing Vocab

Standards of measurement for marketing effectiveness.

• Metrics

• Budget

• Market Segments

• Sales Analysis

Specifies the costs to implement the planned marketing tactics and promotions.

• Metrics

• Tactics

• Budget

• Competition

The process used to influence the customer's perception of a product.

• Product Positioning

• Tactics

• Promotional Mix

• Metrics

A snapshot of the environment in which a business has been operating, evaluating both internal and external environments related to marketing and sales.

• Situation Analysis

• Competitive Analysis

• PEST Analysis

• SWOT Analysis

One method of conducting an environmental scan is to do a ____________, which evaluates factors in a certain market or geographic region that may impact the success of a business.

• SWOT Analysis

• PEST Analysis

• Competitive Analysis

• Situation Analysis

A company's message to its customer about why the company exists is known as its

• Executive Summary

• Business Description

• Mission Statement

• Vision Statement

Specific activities a company performs to carry out agreed-upon marketing strategies are

• Sales Goals

• Price Strategies

• Marketing Metrics

• Marketing Tactics

Which part of the marketing plan can be described as looking into a crystal ball and seeing the future of the company?

• Vision Statement

• Mission Statement

• Marketing Goals

• Business Plan

The decisions made to executive a marketing plan and meet the goals of a business are known as marketing

• Metrics

• Tactics

• Strategies

• Goals

The list of a company's marketing tactics that includes detailed plans for executing each tactic is the company's

• Action Plan

• Business Plan

• Marketing Goal

• Business Description