Brand Awareness
setting the stage of branding when customers know that your product is in the marketplace.
Strength
Being a leader in the market.
Strength
Having strong customer service
Strength
Your products are environmentally friendly
Weakness
You have a high turnover rate with employees, meaning they change jobs often.
Weakness
You are newcomer in town.
Weakness
You do not offer training for your employees.
Weakness
Your company does not have a website.
Threat
Your competition offers free shipping on all orders.
Threat
A competitor is moving within 10 miles of your business.
Opportunity
A medical office is being built within 5 miles of your restaurant.
Opportunity
A new highway will be built alongside your store within three years.
Threat
New government legislation will affect your business negatively.
Strength
Every time the doors are open, parents are at the school willing to help.
Weakness
Parents of your school are very unhappy with the way this year has gone.
Opportunity
New government legislation will affect your business positively.
Competitive Advantage
Focusing on and letting customers know about your company's key points of difference.
Goals and Objectives
Performing a SWOT analysis helps a company determine this.
Needs and Wants
Fulfilling and determining this should always be a company's two main goals.
Product
Includes the physical unit, package, warranty, service, brand, image, value - can be tangible goods or intangible ideas or services.
Place
Everything from the physical location to the product availability, where and when customers want them.
Promotion
Informing, persuading and reminding customers or potential customers about your business. This includes personal selling, advertising, sales promotion and public relations.
Market
People with needs or wants and the ability and willingness to buy.
Market Segment
A subgroup of people sharing one or more characteristics that cause them to have similar product/service needs or wants.
Market Segmentation
The process of dividing a market into meaningful, relatively similar, and identifiable segments or groups.
Marketing Plan
A formal written document communicating the goals, objectives, and strategies of a company.
Marketing
The process of planning and executing the conception , pricing, promotion, and distribution of ideas, goods, and services.
Marketing Mix
Also known as the 4 P's.
Advertising
Any paid form of non personal communication through different media.
Advertising
The billboard along the highway heading towards the beach.
Direct Marketing
The postcard that the yearbook staff mailed to students.
Direct Marketing
Any type of advertising directed to a targeted group of prospects/customers.
Sales Promotion
Marketing activities used to stimulate sales - to give people that reason to act now, buy now.
Sales Promotion
The buy 2 get one free sale this weekend only at the Nike store.
Public Relations
Many activities that are used to enable an organization to influence a target audience - almost always used to turn around a negative image or "show off" a positive image.
Public Relations
The Horry County State Bank sponsored the March of Dimes walk-a-thon last weekend.
Personal Selling
I couldn't make a decision about the computer I need for work without the help of the sales agents.
Direct Marketing
I received a phone call last night telling me about the benefits of joining the DECA Club.