What's it: Sales forecasting attempts to predict future sales for a specific period and with certain basic assumptions. It may be a sales value or sales volume. In contrast to sales volume, you need to assume price and volume to
What's it: A target market is a part of the qualified available market in which the company seeks to direct its marketing efforts. The available market includes individuals who desire to buy a product and have the ability to pay.
What's it: An economic forecast is a prediction of future economic conditions. This is usually for key economic variables such as economic growth, inflation, interest rates, exchange rates. Why are economic forecasts
What's it: A market segment is parts of a market where consumers share a similar need or want. Individuals in one segment have similar characteristics, including in responding to the marketing mix. However, they are quite heterogeneous
What's it: Market research is an effort to collect and explore information about a market, including consumers' needs and wants. Researchers explore the size, characteristics, and potential of the market, which are essential before
What's it: Marketing objective is something a company wants to achieve through its marketing activities. Objectives are specific goals for the marketing department. They must be consistent with the goals and objectives of the
What's it: The marketing mix is a set of elements for satisfying consumers profitably. In the conventional model, it consists of product, price, promotion, and place. Then, the experts added three other elements: people, process, and