Wednesday, May 22, 2024
The external environment affecting a business including economic, legal, technological, political and social factors
Systems designed to establish policies and objectives and to achieve those objectives within organisations
A business strategy that puts the needs and wants of customers at the centre of all business activity.
The value of the company on the stockmarket, expressed in dollars, after multiplying current share price by the number of shares in issue. See also, capital markets, listed company, public company
The firm that has the largest share of the market, measured by sales (value or volume). See also, market share
Finding out information about the characteristics of potential customers to solve marketing problems and help with marketing decisions. See also, focus group, qualitative research, quantatative research
The proportion of the total market of a product or service that is held by an individual business. Usually expressed as a percentage.
Features or aspects of the final product requested by consumers.
The general direction in which the market is moving to anticipate and meet changing needs
The range of activities that relate to identifying, anticipating and satisfying customer needs (profitably) by means of standard tools such as market research and promotion. See also, marketing strategy, promotion
Term used to emphasise the importance of mixing or blending various factors such as product, price, placement and promotion to achieve marketing objectives. Marketing mix is generally accepted as the use and specification of the four Ps which describe the strategic position of a product in the marketplace. The four Ps definition of the marketing mix is explained in most marketing textbooks and classes. The four Ps of the marketing mix are typically referred to as: Marketing mix: Product - An object or a service that is mass produced or manufactured on a large scale with a specific volume of units. …
A plan to achieve one or more marketing objectives for a product.
Term used to emphasise the importance of mixing or blending various factors such as product, price, placement and promotion to achieve marketing objectives.
The share or percentage of the market a business has based on sales revenue. Can also relate to the how the business wants the product or brand to be viewed by the market. See also, market leader
A marketing plan designed to achieve marketing objectives; long-term plans designed to enable an organisation to identify and meet the wants and needs of its customers. See also, marketing
A place or situation where buyers and sellers meet to exchange goods and services.
An assigned person who offers advice and support to another, often an employee.
Providing support or guidance for a person.
A professional who deals with trade, dealing with commodities that they do not produce themselves, in order to produce profit.
Where two companies join together on an equal footing to operate as one business. See also, acquisition, takeover
The way in which you find out information; a methodology describes how something will be (or was) done. The methodology includes the methods, procedures and techniques used to collect and analyse information.
A set of inter-related phases, activities and tasks that make up the project process.
An individual web page or cluster of pages which are meant to function as an auxiliary supplement to a primary website. The microsite’s main landing page most likely has its own domain name or subdomain.
The statement of an organisation's current and future business goals
Buildings that are constructed in a factory-controlled environment away from the building site. Modules are then linked together to form multi-purpose buildings
Situation where there is only one provider of a product or service in a particular market.
The use of several media platforms including print, telematics, Internet and mobile communications to provide a service to customers.
A company that produces or sells it goods or services in more than one country
An advertising package that includes a range of entitlements such as billboards, online integration, product placement and television commercials.

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