Marketing Plan Terminology

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Across
  1. 2. expenses that do no vary based in the cost of production and sale of your product (rent, insurance) these costs remain the same each month
  2. 3. a gathering of 6-10 potential customers in your market. A moderator leads a survey and discussion of related products identifying a consumer's view of the competitive products
  3. 5. A specific group of people or consumers that share similar characteristics, gender, age, ethnic heritage, hobbies, personal lifestyle, food preference, or career areas define a segment
  4. 8. a schedule of the issues available by each publication. a newspaper is daily, while magazines and journals may be bi-weekly, monthly, or even quarterly
  5. 10. Consists of radio, television, and the internet
  6. 12. the amount of sales of the percentage of a product or service in comparison to other similar products and services on the market. Another phrase that relates to Market Penetration is "Market Share"
  7. 15. protects you and your business against lawsuits, claims, and damages
Down
  1. 1. is a written sentence, a short list, or a short paragraph stating your business goals or purpose. The statement should be simple and easy to remember. It states the direction your business will take
  2. 4. measures the number of times a person will see your ad within a given media schedule
  3. 6. the retailer is the market or store buying from the distributor. Retailers sell directly to the consumer. They will also add a commission to the product creating their profit margin. This is also known as retail pricing. Retailers may sell in a store catalog or even on their own web site.
  4. 7. the costs incurred to make your product and operate your business
  5. 9. a general marketing term describing decisions made throughout the process of delivering a product/service to the consumer
  6. 11. a distributor will buy products form a manufacturer or company and sell them to retail stores or markets. They make their money by buying a product bulk and applying commission to it
  7. 13. the man hours required to build your product. Direct labor cost is the actual hourly cost. 2 hours @ $10 per hour=$20. Billable hours are the cost based on what you charge your customer to produce a product or the cost per hour to perform a service. An example is billing an house for $20 per hour. The billable cost is 2 hours @ $20 = $40 billable
  8. 14. Profit the difference between the amount of a product sakes and the cost to make that product