Internal Marketing The process of eliciting support for a company and its activities among its own employees, in order to encourage them to promote its goals. This process can happen at a number of levels,fromincreasing awareness of individual products or marketing campaigns, to explaining overall business strategy.
Joint Venture A third party commercial operation established by two or more rms to pursue a particular market, resource supply, or other business opportunity. It is created and operated for the benefit of the co- owners. Long-Term Objectives A firm's intended performance over a multi-year period of time; usually includes measures such as competitive position profitability, return on investment, technology leadership, productivity, employee relations and development, public responsibility
Market Development The process of growing sales by offering existing products (or new versions of them) to new customer groups. Market Entry The launch of a new product into a new or existing market.
A different strategy is required depending on whether the product is an early or late entrant to the market; the first entrant usually has an automatic advantage, while later entrants need to demonstrate that their products are better, cheaper and so on. Market Leader The company that has control over a certain market.
Market Positioning A marketing strategy that will positiona business' products and services against those of its competitors in the minds of consumers Market Research The systematic gathering, recording and analysing of data about problems relating to the marketing of goods and services.