A target for the whole business e.g growth or improve profitability
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Funcional objective
A target for one of the businesses departments e.g a marketing objecive to enter new markets
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Marketing objectives
The targets of the marketing departments e.g launch new products
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Marketig tactics
Short term marketing steps adopted to implement the marketing strategy e.g the marketing mix activities untertaken to achive a chosen stragergy
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Market analysis
The process of analysing the size , structure and growth of a market in order to support marketing decisions
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Average
A term for various measures of central tendacy including the mean mode and median
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Moving average
A method to calculae the trend that exiss within a series of data over time.It involves smoothign out the erratic and seasonal factors to reveal the underlying trend
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Back Data
Past research finidings or sale figures which can be used to predict the future.Usually the starting point of a Planning process
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Correlation
An apparent elatio between two factors which can be either positive or ngative
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Extrapolation
Projecting a trend forward into the future to predic for example sales.Using the past to predict the future.
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Trend
The underlying pattern of growth or decline within a series of data
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Sales forecast
A prediction of the levek of slaes revenue for individual products or the whole organisation
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Test Marketing
Launching a new product or service in a limited par of the target market in order to gauge the viability of the product and acess the most appropriae marketing mix
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Situational analysis
Builds on SWOT and the market research to create a picture of the business situation: internal resources and processes of the business , customer demand and behaviour , competitor actvity and technological developments , market
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PESTLE
A method of analysing the external enviroment by checking political , economic, social ,technological , legal and economic issues facing the firm
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Product positioning
The way in which the marketing function tries to create an image or identity in the minds of target market
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Repositioning
Changing the marketing mix for a prduct to appeal to a different market segment
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Competitive advantage
Skills competencs resources and other advantages that enable a firm to outperform its rivals
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Marketing plan
A statmen of the oranisations current marketing position and future stragegies and a detailed examination of the tactics it will use to implement he plan and achive its objectives
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Marketing budget
The amount of money a firm allocates for spending on is marketing activity
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Other cards in this set
Card 2
Front
A target for one of the businesses departments e.g a marketing objecive to enter new markets
Back
Funcional objective
Card 3
Front
The targets of the marketing departments e.g launch new products
Back
Card 4
Front
Short term marketing steps adopted to implement the marketing strategy e.g the marketing mix activities untertaken to achive a chosen stragergy
Back
Card 5
Front
The process of analysing the size , structure and growth of a market in order to support marketing decisions
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