Name: Colton Laturno

Hour: Sixth hour

Marketing
Chapter 2 Vocabulary
1. SWOT analysis

2. Environmental scan

A business may conduct an environmental scan to methodically examine the four main
areas of the market place.

3. Marketing plan

Plan that marketers create to get goals across to others.

4. Executive summary

Briefly summarizes the marketing plan.

5. Situation analysis

Studies the internal and external factors that affect marketing strategies based on SWOT
analysis.

6. Marketing strategy

Identifies the target market and sets marketing mix choices.

7. Sales forecast

Prediction of sales for a product.

8. Performance standard

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9. Market segmentation

Companies identify people who have common interests and traits.

10. Demographics

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11. Disposable income

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Name: Colton Laturno
Hour: Sixth hour
12. Discretionary income

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13. Geographics

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14. Psychographics

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15. Mass marketing

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Marketing Chapter 2 The Marketing Plan
Introduction: Brainstorm a list of 5 companies that you would consider successful. Then answer the
following questions:

1. List the companies below.
Apple, Nike, Microsoft, Under Armour, Direct Tv

2. Why did you place those companies on your list?

They are well known and used a lot in everyday life


3. Do any of them dominate the market? Why or Why not?

Nike, they dominate because they have stuff for all ages and for a lot of different activities.

Chapter 2 Outline
2.1 Marketing Planning
I. SWOT analysis is a process where a business analyzes its strengths, weaknesses, opportunities, and
threats.
A. Internal Strengths and weaknesses
1. Company analysis- what a company does well? And what areas are weak?
2. Staff-Related Analysis- Companys mission statement? Experience of executives?
3. Financial questions- Profit? Sales? History?
4. Production capability questions- adjustments in productions? Changes in technology?
5. Four ps of marketing mix-The Company must also consider the four ps of marketing mix
6. Customer Analysis- Companies use surveys or conduct interviews
7. Competitive Position- Market Share? Advantages over its competitors?

Name: Colton Laturno
Hour: Sixth hour



Independent Practice
1. Find 3 online sites or surveys that rate products or services.
IMDb, Yelp, Trip Advisor
2. List the web addresses for each site below
http://www.tripadvisor.com/ http://www.imdb.com/ http://www.yelp.com/
3. How do companies use this information and feedback generated on these sites in
formulating their own marketing plan?
They use this information to improve their service and products to how customers like it.


1. Environmental scan - A business may conduct an environmental scan methodically examine four main
areas of the market place.
2. P. Political- political issues center around
3. E. Economic- Unemployment rate, Inflation,
4. S. Socio-Cultural- It focuses on customers
5. T. Technological- Changing technology may be a



Futura Fashions Case Study
Internal Strengths Internal Weaknesses
100 store chain that caters to a teenage market
Hired an experienced fashion buyer and merchandise
manager
Loss of buying and
merchandising
External Opportunities External Threats
Consumer confidence is good Areopostale, American Eagle





II.
Marketers create a marketing plan to communicate aspects such as:
Company Goals
Specific Responsibilities
Budgets and deadlines
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Hour: Sixth hour
Overall performance
A. Elements a Marketing Plan

1. An executive summary briefly summarizes the marketing plan

2. The situation analysis studies the internal and external factors that affect marketing strategies bases on
SWOT analysis.

3. Goals and Objectives Defines specific goals to be met ( read page 35)

4. A marketing strategy identifies target markets and sets marketing mix choices. The strategy is
determined by the companys or products competitive position and the SWOT analysis.

5. Implementation: Make the Plan, Work the Plan
A timetable shows where the plan comes into play, such as:
Schedule of activities
Job assignments
Sales forecasts
Budgets and Personnel
6. Evaluation and Control TO evaluate how well a marketing plan is being carried out, performance
standards measure progress against the planned original activities
7. Performance Standards and Evaluation tells how the marketing plan will be evaluated and any new
measures
8. Appendix Supplemental materials
Section 2.2 Notes
2.2 market segmentation
I. Identifying and Analyzing Markets

Companies identify groups of people who have common interests and traits. This is called market
segmentation
A. Demographics
1. Age
2. Gender
3. Income - disposal versus discretionary
4. Marital status- Married couples 49.7% of population
5. Ethnic Background- African Americans, Hispanic and Asian.
B. Geographics refers to segmentation of the market based on where people live. To segment a market
geographically, you can refer to: Local and regional markets, National and Global markets
C. Psychographics involves grouping people with similar:
1. Activities
2. Attitudes
3. Personality and Values advanced psychographics
D. Behavioral
1. How marketers use consumers behavioral patterns
E. Mass marketing versus Segmentation
1. A New Marketing Trend
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