Business Marketing Key Terms

Business strategy: long term plan of action designed to achieve a particular goal or set of objectives

Functional Objectives: set for each major business function and are designed to ensure that the corporate objectives are achieved

Objectives: statements of specific outcomes that are to be achieve

Corporate objectives: those that relate to the business as a whole

Test Marketing: Involves launching the new product in a small part of the market in order to gauge the viability of a product/service in the target market prior to a main roll out/launch

Moving Averages: a data series and smooths the fluctuations in data to show an average. The aim is to take out the extremes of data from period to…