The Marketing Plan- Chapter 7 Crossword

An evaluation process that encompasses market segmentation, marketing research, and sales forecasting
Basic physical product/service that delivers the benefits
(_____ to Forecasting) Unique new business circumstances ; Lack of familiarity with quantitative methods ; Lack of familiarity with the forecasting process
A strategy that recognizes different preferences of individual market segments and develops a unique marketing mix for each
Specific characteristics that describe customers and their purchasing power
A strategy that recognizes the existence of several distinct segments but focuses on only the most profitable segment
A prediction of how much of a product or service can be sold within a market in a defined period of time
The gathering, processing, reporting, and interpreting of market information
The parameters used to distinguish one form of market behavior from another for the purpose of market segmentation
Use of sales as the predicting variable
Conditions that make forecasting more _____; 1) new venture, 2) limited managerial experience, 3) poor understanding of forecasting techniques
Specific characteristics that distinguish market segments according to the benefit sought
Entrepreneurs may have strong production skills and weak marketing skills
A description of potential customers in a target market
Fundamental benefit or solution sought by customers
All potential buyers in various submarkets are identified and then the estimated demand is added up (bottom up)
A type of competitive strategy in which cost and differentiation-based advantages are achieved within narrow market segments
Marketing*Ingredients: A group of (1) customers or potential customers who have (2) purchasing power and (3) unsatisfied
conditions that make forecasting ______; 1)established business, 2) experienced manager, 3) entrepreneur familiar with forecasting techniques
Small*Business*Marketing: Business activities that direct the creation, development, and delivery of a bundle of satisfaction from the creator to the targeted user and that satisfy the targeted
Augmented*Product: Basic product/service plus extra or unsolicited benefits to the
Interpreting: the final step in the marketing research
Sales*Oriented: Favors product sales over production efficiencies and customer
Unsegmented*Strategy: (Mass Marketing), A strategy that defines the total market as the target
Market*Segmentation: The division of a market into several smaller customer groups with similar
Indirect*Forecasting: Use of related variables related to sales as proxies to project future
Product*Oriented: Emphasizes development of the product and production efficiencies over other
(chain-ratio method) Forecasting begins with a macro-level variable and works down to the sales forecast
All marketing efforts begin and end with customers. The focus is on consumers’ needs, which is most consistent with long-term success of the firm
A method for collecting primary data that includes surveys, personal interviews, and experiments