Domain 2 Vocabulary

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Market Segmentation

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A marketing strategy in which select groups of consumers are identified so that certain products or product lines can be presented to them in a way that appeals to their interests

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Demographics

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The collection and analysis of broad characteristics about groups of people and populations

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Psychographics

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The qualitative methodology of studying consumers based on psychological characteristics and traits such as values, desires, goals, interests, and lifestyle choices

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Geographics

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based on or derived from the physical features of an area

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Behavioral

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This segmentation in e-commerce focuses on analysis of customers habits using websites

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SWOT Strategic Planning

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This analyzes a businesses Strengths, Weaknesses Opportunities and Threats.

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Tactical Planning

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Is short term and identifies specific actions needed to complete some part of the business goals or objectives identified in a strategic plan

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Operational Planning

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To integrate production, equipment, personnel, inventory, and processes

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Internal

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Anything within the company and under the control of the company no matter whether they are tangible or intangible

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External

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things outside a business that will have an impact on its success