Transcript Target Market - Sampson County Schools

2/3/16
• 11.Marketing Segmentation- Dividing the
entire market into smaller groups (of people)
who share similar characteristics.
• 12. 4 Segmentation methods?
• Complete TM webquest.
2/4/16
• 13. Demographic segmentation- Segmenting
the market based on personal characteristics such
as age, gender, income, education and occupation.
• 14. PSYCHOGRAPHICS- Segmenting the market
based on Interests, Habits, Activities, Lifestyles,
Opinions, & Hobbies
• 1.01-1.04 Study Guide
• Quia- 1.01-1.04 Review games
TGIF 2/5/16
• 15. MARKETING MIX- a combination
of decisions about the product, price, place,
and promotion
• Study for Test!
• Get out study guide!
2/9/16
• 16. SELLING- is planned,
personalized communication, involves
interaction between salesperson and
customer.
Marketing Plan for Crickets
• http://www.wral.com/are-crickets-the-new-food-craze-/14418997/
• https://www.youtube.com/watch?v=ttehcPYX-wU
•Poster- 4 P’s and Target Market
• Example of packaging
• Example of promotion
• Be creative with branding!
2/11/16
• 17. EMOTIONAL BUYING MOTIVE–buy
based on emotions (ex. Social approval,
recognition, power, love, prestige)
• 18. CUSTOMER SERVICES FUNCTION – a
department or a function of an organization that
responds to complaints from customers
2/12/16
• 19. SALES PRESENTATION- is the sales
procedure in which the sales person shows the
customer the benefits of the product’s features;
includes the sales dialogue and product
demonstration
• Keep folders until after vocab.
Quiz on Wednesday!
2/16/16
• 20. SERVICE ORIENTATION- Listening to
and understanding the customer. Customer
satisfaction is high priority.
• Quiz tomorrow (1-20)- Bingo Review later!
QUIZ Today!!
Study!
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Marketing
What is marketed?
Target market
Marketing functions
Marketing plan
Promotion
Products
Tactics
Interpersonal skills
Sales Presentation
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Segmentation Methods
Mktg segmentation
Demographic
Psychographic
Marketing mix
Selling
Emotional buying motive
Customer service
function
• Service Orientation
9/10/14
• 15. TACTICS – are developed to accomplish the
strategies; it is the how things will be done, daily
actions.
• TEST TODAY!
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STUDY--- study guide!
Marketing functions
Marketing mix
Segmentation methods
9/10/13
• TEST TODAY!
• STUDY--- study guide!
• Marketing functions
• Marketing mix
• Segmentation methods
9/4/13
• 7. MARKETING PLAN- is created with
marketing strategies for the marketing mix.
• 8. GOALS/OBJECTIVES – established on a
yearly basis and support the mission statement, must
be measurable and have a deadline
• 9. TACTICS – are then developed to accomplish
the strategies; it is the how things will be done, daily
actions.
2/18/16
• 1. When I’m a customer I want…
• Get out notes from yesterday.
TGIF 2/19/16
• 2. What does EXCEPTIONAL CUSTOMER
SERVICE mean?
• 3. What is Stew’s (Leonards) Policy? 2 rules
• http://www.stewleonards.com
2/22/16
• 4. Pre-sale activities- all of the effort needed to
prepare to make a sale BEFORE the customer is
acquired; customer info, product knowledge.
• 5. Service policies: guidelines for servicing
customers.
• Get out 2.01 selling NOTES!
2/23/16
• 6. PRODUCT KNOWLEDGE- Information
about a specific good or service that can be used
in sales presentations
• 7. UTILITY- usefulness; capable of satisfying
wants and needs
Complete PPT- International Clients
- 3 facts to share with class
2/24/16
• 8. ETHICS- basic principles that
govern your behavior
• 9. ECONOMY- the system in which
people make and spend their income
• www.makebeliefscomix.com
2/25/16
• 10. RETAILER- a business that buys consumer
goods or services from wholesalers or directly
from manufacturers and resells them to the
ultimate consumer
• 11. SELLING POLICIES- guidelines for selling.
How will products be sold?
TGIF 2/26/16
• 12. ROBINSON- PATMAN ACT- is a United
States federal law that prohibits anticompetitive
practices by producers, specifically price
discrimination.
• 2.01 study guide
• Quia
9/17/13
• 10. SUSPICIOUS: customers who doubt or
questions everything and may want facts and
proof before being convinced something is true.
• 11. SLOW/METHODICAL: customers who
require a lot of time to make a purchase because
of indecisiveness
2/29/16
• 13. GRADES- are ratings assigned to products that tell
to what extent it meets the standards
• 14. WARRANTY- is a defined promise made by the
seller to the consumer that the seller will repair or
replace a product that does not perform as expected
3/1/16
• 15. What are the 4 types of warranties?
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Express – specific statement, written or oral- promising quality
Implied – not written or stated, it’s expected & understood
Full – covers ENTIRE product
Limited – only certain repairs/parts covered
• HW- Example of product with grade or rating?
• Guest speaker tomorrow!
3/2/16
• 16. Product recall- is a request to return to the
maker a batch or an entire production run of a
product, usually due to the discovery of safety issues.
• 17. Magnuson-Moss warranty act of 1975- Act
provides guidelines for businesses offering
warranties and guarantees with their product.
• HW- Example of product with grade or rating?
• Guest speaker today!
3/3/16
• 18. CORPORATE IMAGE- is the perception
that the general public holds about a particular
business.
• HW?
3/4/16
• 19. VALUES—things that are important
to you, your company or product.
• 20. BRAND CUES—elements that
remind customers of brands and their
values
• HW?
• Study Bellwork- Quiz Tuesday!
STUDY--- Quiz Today!
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Exceptional Customer Service
Product knowledge
Ethics
Retailer
Robinson-Patman Act
Pre-sale activities
Grades
Implied Warranty
Product Recall
• Value
Stew’s Rules
utility
economy
selling policies
Magnuson-Moss Warranty Act
service policies
Warranties
Limited warranty
Corporate image
Brand cues
9/30/13
• 6. BRAND TOUCH POINTS- all opportunities that
businesses have to connect with customers and reinforce
brand value
• 49% have completed so far.
The Nike logo was purchased for $35 in 1971 from Portland State
University graphic design student, Carolyn Davidson.
According to Davidson, Phil Knight, company founder, said at the
time:
" I don't love it, but it will grow on me."
The Nike swoosh has undergone very few modifications. Today the
famous swoosh is synonymous with quality sports gear.
TEST Today!
2.01, 2.06-2.07
• Get out 2 study guides!
– 2.01
– 2.06-2.07
3/10/16
#3
• 1. Product Feature- is a physical
characteristic or quality of a product.
• 2. Product Benefit- is the personal
satisfaction or advantage that a customer
wants from a product.
• Get out Product List A-Z
3/14/16
• 3. Cold canvassing- cold calling, prospect is
not expecting you
• 4. Endless Chain method- a salesperson asks
each customer called upon to suggest the
names of other likely purchasers of the same
product
10/7/13
• 13. PROSPECT- a potential customer
• Ex- employer leads, telephone directories, trade & prof.
directories, commercial lists, customer referrals, & cold
canvassing
• STUDY SALES PROCESS!
• 10. Create a feature/ benefit chart for Great Wolf
Lodge.
3/18/16
• 5.Merchandise Approach- Use when customer is
looking at an item
• 6. Open ended questions- more than yes or no
answers
• 7. Third party objection method- using a
customer or celebrity testimonies to help overcome
objection
• Completed sales process notes.
• Sales Process worksheet
3/21/16
• 8. SUGGESTION SELLING - Selling
additional goods to enhance the original
purchase
• 9. UPSELLING METHOD– suggesting
larger quantities at a lower prices
• Get out 2.09 Sales Process Notes
3/22/16
• 10. SELLING- is planned, personalized
communication, involves interaction between
salesperson and customer.
• 11. OBJECTION- legitimate reason, doubt, or
hesitation for not buying
Sales Process Comic
• www.makebeliefscomix.com
• www.toondoo.com
• Print & organize on construction
paper
• Type or Write text boxes/convo
3/23/16
• 12. Set a price? What additional fees may be
added to the customers bill?
13. Forms of Payment?
3/24/16
• 14. Margaret orders…
– 2 pairs of shoes @ 75.00 each
– 1 t-shirt @ 30.00 each
– 2 pair of pants @ 25.00 each
• (BOGO ½ off)
• Subtotal-
_______________
• Tax amount (7 ½ %)- ____________
• Shipping & Handling ______8.00_____
• Margaret pays- _______________
4/4/16
• 15. Credit card fee- the percent of sales based on a sliding
scale that merchants pay to credit card company
• 16. Special Order- The request of an item not normally in
stock or carried at a store
• 17. 1 gallon of milk= $3.79, Sales tax is 7.5%
4/5/16
• http://www.fastcompany.com/34926
/how-size-customer
• 18. “How to Size Up a Customer”- Read the
short article & respond. (3 sentences)
– Explain Maor’s rules.
– TEST today 2.08-2.10! Practice test in Quia.
4/6/16
• 19. Product/Service Management- is a marketing
function that involves obtaining, developing,
maintaining, and improving a product.
• Get out 3.01 notes (blue)
4/11/16
• 20. ETHICAL- morally correct
• 21. PLANNED OBSOLESCENCE- Making
products that are known to not last long, or
change, so that people will need to replace
them
• Get out 3.01 notes
• Bellwork QUIZ and Words Due- Wednesday!
4/12/16
• 22. POSITIONING – developing a specific
marketing mix to influence potential customers’
overall perception of a brand, product line or
organization in general
• Bellwork Quiz tomrorow! Bingo today!
QUIZ TODAY!
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Product feature
Product benefit
Cold canvassing
Endless chain method
Prospect
Merchandise approach
Open ended questions
3rd party objection
Suggestion selling
Upselling method
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Selling
Objection
Credit card fee
Special order
PSM
Ethical
Planned Obsolescence
Positioning
Sales Transaction
4/11/16
• 20. Decline stage- Sales start to decrease. A
company must decide to alter the product, discount,
or discontinue product.
• Get out 3.01 product/service management NOTES!
TGIF 10/11/13
• 19. What are infomercials?
• List 3 product examples… Describe.
3/9/12
• 11. 1 gallon of milk= $3.79, Sales tax= 7.5%
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Tax amount=______________
Total due= ________________
Customer pays= $5.00
Change due= ______________
Bellwork 9/10/12
• 10. Goals/Objectives – established on a yearly basis
and support the mission statement, must be
measurable and have a deadline
• 11. Tactics – are then developed to accomplish the
strategies; it is the how things will be done, daily
actions.
9/13/12
• 14. Analysis----the process of summarizing,
combining, or comparing information so that
decisions can be made.
• 15. Market Share Analysis — the percentage of
all sales within a market that is held by one brand
/ product or company.
TGIF 9/14/12
• 16. Call reports – records of sales people’s
meeting or contact with customers
• 17. Marketing Information – data collected from
internal sources, external sources or marketing
research
• 18. List the customer information needed for
marketing research….
9/17/12
19. Estimates – an approximate judgment or
calculation
20. Predictions – a forecast of something to
happen
• TEST Tomorrow on objectives 1.01-1.05!
• Bellwork due & Quiz- Wednesday!
Bellwork 9/11/12
• 12. What are the functions of marketing?
Bellwork 2/13/12
• 10. Marketing research – career that learns
about the markets and what influences
customers’ purchasing decisions
• Get out marketing career research and questions…
Bellwork BINGO- 1 free space/1
word each box.
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Customer Service Function Emotional buying motive
Service orientation
Pre-sale activities
Service policies
Terms-of-sale policies
Grades
Warranty
Product recall
Corporate image
Magnuson-Moss warranty of 1975
Clientele
Touch points
Product benefit
product feature
Values
Brand cues
Sales presentation
Policy
Procedure
http://www.southwest.com
“The mission of Southwest Airlines is dedication to the highest
quality of Customer Service delivered with a sense of
warmth, friendliness, individual price, and Company Spirit.”
The company mission statement says a lot about the Southwest
culture. As a result, after 30 years of passenger service,
the airline is the fourth largest in the United States, flying more
than 64 million passengers a year out of 59 airports.
The approach to business and customers is what makes
Southwest a popular airlines with passengers. In 1988, 1992,
1993, 1994, 1995, and 1996, the airline won the coveted industry
Triple Crown—Best On-Time Record, Best Baggage Handling,
and Fewest Customer Complaints. It was the first airline to accomplish
this feat. They have since spearheaded other
customer-focused initiatives by being the first airline to award
frequent flyer points for number of trips flown with them instead
of based on miles. Southwest also pioneered senior discounts,
Fun Fares, Fun Packs, a same-day air freight delivery service,
2/24/12
• 18. Culture- The set of shared attitudes, values,
goals, and practices that characterizes an
institution, organization, or group
• STUDY the steps of the sales process!
• Words due and Quiz Tuesday!
BINGO- 1 free space, 1 word in each box.
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Marketing
Customer
Marketing plan
4 Seg. Methods
Marketing Segmentation
Mass marketing
Tactics
Culture
Pre-sale activities
Service orientation
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Target market
Marketing Research
Marketing Functions
Selling
Emotional buying motive
CS Function
Terms-of-sale policies
Service policies
Product Feature
Product Benefit
10/5/11
• 9. Selling- is planned, personalized
communication designed to influence
purchase decisions that ensure customer
satisfaction.
• 10. Pre-sale activities- all of the effort needed
to prepare to make a sale BEFORE the customer
is acquired; such as obtain customer info,
knowledge of product and market.
2/28/12
• Bellwork QUIZ today!
• Get out your words, make sure your
name is on it, and STUDY!
AMP Energy DRINK
12. List all the promotions you have ever seen
for this product.
TGIF 9/16/11
• 14. Examples…
Bellwork 9/19/11
• 15. Market Share- the percentage of all sales
within a market that is held by one
brand/product or company.
Bellwork 9/20/11
16. POLICY- proposed or adopted course or principle
of action; Intended to influence & determine decisions &
actions
17. PROCEDURE- An established or official way of
doing something; A series of actions conducted in a
certain order or manner
Bellwork DUE & QUIZ Friday!
Bellwork 9/22/11
18. Analysis- the process of summarizing, combining, or
comparing information so that decisions can be made.
Bellwork DUE & QUIZ TOMORROW!
Bellwork 9/26/11
Start a new sheet today.
• Get out 1.03 notes.
9/30/11
• 4. Manufacturer -is a type of producer that
changes the shapes or forms of materials so
that they will be useful to consumers.
• 5. Retailer- is a business that buys consumer
goods or services and sells them to the
ultimate consumer.
10/3/11
• 6. Direct Distribution -is from the
manufacturer directly to the consumer
without the use of a retailer
• 7. Indirect Distribution -uses intermediaries
or middlemen like agents, wholesalers, or
retailers.
10/11/11
• 13. Bait-and-Switch Advertising: Advertising
one product (the "bait") at a very attractive price,
then informing the customer that the advertised
product is either unavailable or of poor quality,
convincing the customer to purchase a different,
more expensive product.
• Get out 2.01 notes… fill in the blank.
3/12/12
• 12. Margaret orders…
– 2 pairs of shoes @ 75.00 each
– 1 t-shirt @ 30.00 each
– 2 pair of pants @ 25.00 each
• (BOGO ½ off)
– 2 20 oz. Coca-Colas @ 1.29 each
• Subtotal-
_______________
• Tax amount (7.5%)- ____________
• Shipping & Handling ______8.00_____
• Margaret pays- _______________
3/13/12
• 13. Clientele- a body of customers or patrons
• Make sure you have
– 2.01
– 2.08
– 2.09 study guides…
3/14/12
• TEST TODAY!
• STUDY GUIDES– 2.01
– 2.08
– 2.09
• Calculator?
3/15/12
• BLOG about…
Word of Mouth
Advertising
TGIF 3/16/12
• 14. Referrals- Loyal customers provide salespeople
with leads to new customers.
• 15. Ethics- the basic principles that govern behavior.
3/19/12
16. Institutional promotion- is designed to create a
positive image and establish or maintain
goodwill.
17. Product promotion: is designed to stimulate
sales of a business/organizations good/service.
4/2/12
• 18. Promotion- is a marketing function needed
to communicate information about goods,
services, images, and/or ideas to achieve a
desired outcome.
• Bellwork QUIZ and words due Wednesday!
4/3/12
• 19. Product Placement- Product manufacturers pay
millions of dollars for the right to use their brands as
movie props
• 20. Telemarketing- Calling prospective customers on
the phone as well as providing a number for people to
call
• Bellwork QUIZ & Words DUE Tomorrow!
BELLWORK BINGOquiz today!
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Merchandise approach
Open ended question
Cold canvassing
Endless chain method
Suggestion selling
Upselling method
3rd party objection
Objection
Credit card fee
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Special Order
Clientele
Referrals
Ethics
Intuitional Promotion
Product promotion
Promotion
Product placement
Telemarketing
BELLWORK QUIZ!
• STUDY WORDS!
• Write your name
4/16/12
• Find 4.01 & 4.02 study guide! TEST TOMORROW!
4/17/12
• TEST TODAY!
• Objectives 4.01 &
4.02- Promotion!
• Look over study
guides!
TGIF 4/27/12
Start a new sheet for bellwork today!
• 1. Product Mix – All the types of products a company
makes or sells
• 2. Product Depth – number of items offered within each
product line
5/4/12
• Get out slogan list….
5/7/12
• 12. trade character - personified symbol to
represent brand name
• 13. co-branding. – occurs when companies join
forces to increase recognition, customer loyalty,
and sales of both brands.
TGIF!
5/11/12
• Get out slogan list….
5/15/12
• 18. DUMPING: foreign producers offer their
products to domestic consumers at lower prices
than the domestic producers can afford to sell at
(below market pricing)
• Bellwork quiz and words due-Thursday!
5/16/12
• 19. Channels of Distribution- move products
from producers to consumers
• 20. Direct Distribution- straight from producer
to consumer or industrial user, no middleman
• Bellwork QUIZ & Words DUE Tomorrow!
What are the FUNCTIONS
of MARKETING?
5/17/12
• MOCK EOC Today!--- bellwork later
• Paper, pencil, calculator.
• elements.schools.nc.gov/sampson/test
• POST-IT- 3 topics….
– You couldn’t remember, didn’t know,
never heard of, need to study…
• QUIA- 3.03-3.05 Quiz, R-Riches
Happy Halloween! 10/31/11
• 10. What are the
product features?
11/1/11
• 11. Hidden Benefits- Advantages that cannot be
seen or understood without the assistance of a
salesperson
• 12. Obvious/apparent benefits- Advantages that
need little explanation by the salesperson.
• Get out 2.04-2.07 study guide. TEST TOMORROW!
• Get out 2.07 Feature Benefit Activity, 21 questions.
11/2/11
• STUDY 2.04-2.07!
• TEST TODAY!
• A+….. You can do it!
After bellwork QUIZ…
• Quia- MK 2.01-2.03 QUIZ!
• Complete 2.04 NOTES- Fill in the blank.
• PowerPoint is on my webpage- Product Mix.
BELLWORK BINGO!- 1 free space
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Product mix
Product depth
Grades
Warranty
Product brand
Effective brand
Corporate image
Benefit
Feature
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Hidden benefits
Obvious/apparent benefits
Cold canvasing
Endless chain method
Merchandise approach
Open ended question
Objection
Third party obj. method
Suggestion selling
Upselling method
11/14/11
• No new words today! 
• Objective 2.08 study guide
• 2.08 Practice quiz- Quia!
11/16/11
• 2. Special Order- The request of an item not
normally in stock or carried at a store
• 3. 1 gallon of milk= $3.79, Sales tax= 7.5%
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Tax amount=______________
Total due= ________________
Customer pays= $5.00
Change due= ______________
11/28/11
• 6. Kiosk- stand alone site, for exampleinteractive touch-screen
• Get out 3.01 Product- Service management NOTES.
12/5/11
• 12. brand strategies – are actions that need to be
taken with an established brand to accomplish its
goals.
• 13. family branding – involves using the same
brand for related products in a product line.
12/6/11
• 14. Brand licensing- allows one company
to use another's brand name, logo, or
character for a fee.
• 15. Touch points- opportunities business
have to connect with customers
• VISUAL ELEMENTS
• PRODUCT ELEMENTS
• SERVICE ELEMENTS
12/8/11
• 16. Values—things that are important to you,
your company or product.
• 17. Brand cues—elements that remind
customers of brands and their values
1/2/11
19. Institutional promotion- is designed to create a
positive image and establish or maintain
goodwill.
20. Product promotion: is designed to stimulate
sales of a business/organization good/service.
Bellwork words due and Quiz tomorrow!
• Draw a picture of a recent outdoor advertisement
you have seen.
Transit Poster
Specialty Advertising
Sales Promotion--- short term
incentive to stimulate sales….
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Point-of-Purchase displays
Contests
Sweepstakes
Loyalty programs
Coupons
Rebates
Premiums
PPT- Title & 3 pictures of each
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Outdoor
Transit
Specialty
Product Placement
1/3/11- QUIZ TODAY!
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Credit card fee
Special order
PSM
Decline stage
Kiosk
Ethical
Planned obsolescence
Positioning
Trade character
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Co-branding
Brand strategies
Family branding
Brand licensing
Touch points
Values
Brand cues
Dumping
Institutional promotion
Product promotion
12/12/11
• No new words today.
• Get out 3.05 Channels of Distribution notes!
• Study guide 3.02-3.05.
Channels of Distribution
for CONSUMER Goods
• 1 Direct
– 2 steps
• 3 Indirect
– 4 steps
– 4
– 3
Channels of Distribution
for INDUSTRIAL Goods
• 1 Direct
– 2
• 3 Indirect
– 3
– 3
– 4
• Flexible Pricing: every customer negotiates
their own price (car dealerships mostly use
flexible pricing)
TGIF! 11/18/11
• TEST TODAY!
• STUDY 2.08-2.09
• Sales Process?
– Selling policies: guidelines for selling. How
will products be sold?
– Selling-activity policies: guidelines for sales
people. What is required of the sales
employees? What laws apply?
– Terms-of-sale policies: What conditions apply
to each type of sale? (Think airline tickets, eBay, close-outs)
– Service policies: guidelines for servicing
customers.
Find an Advertisement
• Brainstorm and make a list of types of
research you could conduct to help market
this product.
• Different types of research work better for
different products.
• How can you reach the target?
ILLUSTRATE/DESCRIBE the
Market Segment for each!
• FIND a picture
example of each
product below.
• Jeans/pants
• Car
• Beauty Product
• Food
• Describe the target with
pictures/words.
• Find at least 8 pictures
that describe the
segmentation methods.
– (2 pics for Geo, 2 pics for
Psycho, 2 pics for Demo, 2
pics for Beh.)
www.quia.com/web
Create new student account.
Class code: HTMCXF469
TARGET MARKET
• The group of consumers that a company
desires to have as customers.
Target Market
Get out worksheet from yesterday.
Obj. 1.04
Explain the concept of market
identification.
MARKET
• The group of potential consumers
who share common needs and wants.
MASS Marketing
• A single marketing plan used to reach ALL
consumers.
MARKET SEGMENTATION
• Dividing the entire market into smaller groups
(of people) who share similar characteristics.
Demographic
Psychographic
Geographic
Behavioral
DEMOGRAPHICS
• Segmenting the market based on
personal characteristics such as age,
gender, income, ethnic background,
education and occupation.
• Example: middle class, males, ages 20-40, who are construction
workers.
PSYCHOGRAPHICS
• Segmenting the market Interests, Habits,
Activities, Lifestyles, Opinions, & Hobbies
• Example: People interested in professional football.
GEOGRAPHICS
• Segmenting a market based on where a
person lives. By nations, states, regions,
counties, cities, or neighborhoods.
• Example: A small local store will segment to the surrounding area
like a town, while big companies like Nike market Internationally.
BEHAVIORAL Segmentation
• Dividing markets into groups based on what
they are looking for in a product and why they
buy the product.
• Product benefits, usage, loyalty, and occasions
• Example: Purchasing Nike shoes because Michael Jordan wears them.
• 52 year old woman
• Marathon runner
• Prefers caffeine free
beverages
• NC Mountains
• Received a Masters Degree
from NCSU
• Married with 2 kids
• Enjoys water sports
Demographic
Psychographic
Geographic
Behavioral
Notes Quiz – take out 1 sheet of
paper label it with your name, block,
and Notes Quiz 1, and date
• Number 1 – 7
• Give answers only
• Turn paper over when you are finish and be
quiet until everyone is done
Notes Quiz
• 1. _____ is the group of all potential customers.
• 2. When a company uses 1 marketing plan to reach
everyone, they use ______.
• 3. Which is larger a market or target market?
• 4. How many types of segmentation did we discuss?
• 5. If a company wants to target on people who live in
Clinton, what type of segmentation are they using?
• 6. When a company targets specifically males age 1418, which type of segmentation is being used?
• 7. A specific group of people a company desires as
customers is called a what?
1.02 continued…
Employ marketing-information to develop a
marketing plan.
• Mission Statement – the guiding principle for all
business decisions and provides direction for
planning.
• Goals/Objectives – established on a yearly basis and
support the mission statement. Goals must be
measurable and have a deadline.
• http://www.missionstatements.com/fortune_500_miss
ion_statements.html
• Strategies – are then developed to accomplish
goals and it reflects the method to achieve the
goal (what to do).
• Tactics – are then developed to accomplish the
strategies; it is the how things will be done,
daily actions.