Marketing Processes Flashcards
Product analysis
Examines the current position of the goods and/or service that a business produces in the marketplace.
Product life cycle
The different phases that a business’s product/s will often go through over the course of its existence.
Primary data
Information that is collected for the specific purpose for which it will be used.
Secondary data
Information that already exists, having already been collected for another purpose.
Sales analysis
An examination of the sales of a particular product among different customer groups, by sales representatives and during various times of the year.
Market share analysis
An examination of the sales performance of a business and its comparison with that of its direct competitors.
Marketing profitability analysis
The process of evaluating the financial (such as profit and sales) and non-financial (such as brand awareness and customer satisfaction) benefits that have been achieved by a specific marketing plan against the costs of implementing the plan.
