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_____ is the process of setting standards, measuring performance against standards, and taking corrective action to see that planned performance is achieved.
Market Segmentation
The process of dividing a broader market into smaller, distinct groups of consumers with similar needs, characteristics, or behaviors who might require separate products or marketing mixes.
Marketing Plan
A comprehensive document or blueprint that outlines advertising and marketing efforts for the coming year; it encompasses strategies, costs, and action steps.
SWOT Analysis
A strategic planning tool that assesses Strengths, Weaknesses, Opportunities, and Threats to an organization, used to formulate strategies.
Market Segmentation
The act of segmenting a target market into smaller, more specific groups of consumers who possess similar traits and requirements.
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