ENTR 1 Module 3 Vocab

something a person wants to achieve in a specified time period

• product

• goal

• promotion

• place

the five strategies used to reach a market; product, place, price, promotion, and people

• Competitive Advantage

• Unique Selling Proposition

• Strategy

• Marketing Mix

activities involved in getting a good or service to the end user

• Price

• Product

• Place

• Promotion

the amount of money a business asks in exchange for its produts

• Price

• Product

• Promotion

• Strategy

anything that can be bought or sold, which includes both goods and services

• Competitive Advantage

• Marketing Mix

• Product

• Unique Selling Proposition

moving an employee to a higher-level position

• Goal

• Behaviorial Segmentation

• Promotion

• Geographic Segmentation

plan of action

• Tactic

• Goal

• Market

• Strategy

specific actions used to carry out strategies

• Goal

• Strategy

• Unique Selling Proposition

• Tactics

giving customers greater value, better products, or something not offered by the competition

• Competitive Advantage

• Unique Selling Proposition

• Mass Marketing

• Market Segmentation

statement that lists a business' or product's special features or benefits that highlight its competitive advantage

• Mass Marketing

• Unique Selling Proposition

• Psychographic Segmentation

• Industral Market