Plan that specifies the firm’s marketing tactics, including product features, promotion, merchandising, pricing, sales channels, and service

Determining the cost that must be achieved to sell a new product at the price consumers are willing to pay, given its appeal and competitors’ prices

The part of the qualified available market the company decides to pursue

Determining the price that will yield the firm’s target rate of return on investment

The use of telephone and call centers to attract prospects, sell to existing customers, and provide service by taking orders and answering questions

The sum of the fixed and variable costs for a given level of production

The perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a market offering

The perceived monetary value of the bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of the market offering

Elaborates on a non product-related benefit or image

A direction or sequence of events with momentum and durability