Across
- 4. An acronym used to help remember Situational analysis, Establishing market objectives, Developing marketing strategies, Market research, Identifying target markets, and implementation, monitoring and controlling.
- 6. Usually in the SWOT format. An analysis which helps the business understand its current position in the market
- 10. The second stage of the business life cycle
- 11. Dividing a market into specific parts (e.g 20-40 y/o women)
- 12. One of the 4th possible stages of the business life cycle. Describes the state when sales are dropping because the original need and want have diminished or because another product innovation has been introduced.
- 13. One of the 4th possible stages of the business life cycle. A company A company reaches this state when all sources of competitive advantage are exhausted (it fails to create any future value), and its profitability and efficiency ratios stabilize.
- 14. A less important and, usually, smaller segment of the market
- 16. A group of consumers for which a particular product has been developed
Down
- 1. People who have not purchased from the business before
- 2. Term used to describe the length of time from a product first being introduced to consumers until it is removed from the market. Usually broken down into four stages.
- 3. The first stage of the business life cycle
- 5. A marketing approach which targets all (or most) customers
- 7. A market with a specific, narrow customer base
- 8. The market segment where most of the marketing resources are directed
- 9. The third stage of the business life cycle
- 14. Objectives that are measurable, realistic, achievable, specific and time bound
- 15. One of the 4th possible stages of the business life cycle. The business is reassessed and opportunities for growth in the business are realised