Market Factors and Marketing Plans

Supply and Demand

• economic concept affecting market prices and availability.

• a method of increasing production efficiency.

• a strategy for reducing consumer spending.

• a theory about government intervention in markets.

Pricing Strategy

• to setting product prices.

• to determining product quality.

• to increasing market share.

• to enhancing customer satisfaction.

Price Floors

• A price set by the government, below equilibrium price.

• A price set by the government, above equilibrium price.

• A price determined by market forces without government intervention.

• A price that is fixed by suppliers to maximize profits.

Monopolies

• structure with a single seller dominating.

• market with multiple sellers competing.

• a type of government regulation.

• a situation where prices are set by consumers.

Distribution Strategy

• for delivering products to consumers.

• for managing supply chain logistics.

• for increasing product prices.

• for enhancing customer service.

Promotion Strategy

• used to communicate with target market.

• a method to increase product prices.

• a technique for reducing production costs.

• a strategy for expanding market share.

Marketing Objectives

• set to achieve through marketing strategies.

• measures of customer satisfaction.

• tools for market analysis.

• methods for product development.

Market Segmentation

• a market into distinct groups with common needs.

• a strategy to increase market share by lowering prices.

• a method to analyze competitors' strengths and weaknesses.

• a process of creating a single marketing strategy for all consumers.

Marketing Plan

• document outlining marketing efforts.

• a strategy for product development.

• a financial report for sales forecasting.

• a guide for customer service training.

Market Analysis

• of market conditions to identify opportunities.

• to evaluate past sales data and trends.

• to assess customer satisfaction levels.

• to determine pricing strategies.