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UNIT 4: MARKETING PLAN & SWOT

Across
process of dividing large groups of consumers into subgroups based on specific characteristics and common needs
something a company does well; a positive factor that a company can control
frequently purchased consumer goods that require little decision making
negative, external, factor that a company cannot control
analysis of customer & potential customers’ social and cultural trends
extended decline in business activity, typically 2 consecutive quarters of falling real GDP, Gross Domestic Product
detailed timeline, budget and metrics to evaluate the effectiveness of the marketing plan
goals a business wants to achieve during a given time by implementing the marketing plan—sales image, market share, etc.
marketing efforts are targeted towards specific & well defined sub-segment
snapshot of the environment in which a business has been operating over a given time
use of a single marketing plan to reach all customers
rise in the general price levels over a period of time
positive, external, factor that a company cannot control
specific activities implemented to carry out the marketing strategies—assign roles, schedule meetings, etc.
Down
decisions made about product, price, place & promotion—provide free delivery, price below the competition, etc.
degree of optimism consumers feel about the overall state of the economy & their personal financial position
environment within a particular business
segmenting customers based on how they plan to use a product and or the benefits they expect to receive
document describing business & marketing objectives & the strategies & tactics to achieve them
environment outside of a particular business
statement of how your company, or products, are different or better than the competition
something a company needs to improve; a negative factor that a company can control