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Tuesday, March 5, 2013

Marketing Glossary

Marketing audit

 A systematic examination of a business’s marketing environment, objectives, strategies, and activities with a view to identifying key  strategic issues, threats and opportunities.

Marketing concept

The marketing concept is about matching a business’ capabilities with customer wants.

Marketing intelligence

The composite of all data and ideas available within an organisation that assists in decision-making.

Marketing plan

A detailed statement (usually prepared annually) of how a company's marketing mix will be used to achieve its market objectives. A marketing plan is usually prepared following a marketing audit.

Maturity stage

The stage during which a product's sales curve peaks and starts to decline, and profits continue to decline.