Short-Term Objectives Usually one year objectives sometimes known as Annual Objectives. They often coincide with Long-Term Objectives; they usually indicate the speed at which management wants the organization to progress. Stakeholder A person, group, or business that has an interest in the outcomes of a rm's operations.
Strength A skill, resource, or other advantage that a rm has relative to its competitors that is important to serving the needs of customers in its marketplace. Target Marketing Reaching out to a group of consumers sharing common consumer characteristics with the most appropriate advertisements.
Telemarketing Using the telephone to contact individuals about an advertiser's products or services, or to get support for a cause. Test Marketing Test marketing occurs when a new product is tested with a sample of customers, or launched in a restricted geographical area, to judge customers' reactions.
Threats Threats are any aspect of the external environment which cause problems and which may prevent achievement of objectives Almost by definition, what presents a threat to one business offers an opportunity to other businesses
Unique Selling Proposition (USP) A unique selling proposition is a customer benefit that no other product can claim. Weakness A limitation or lack of skills, resources, or capabilities that impedes a rm's effective performance