Product Suite

Supply Chain Glossary - M

Supply Chain Glossary - M

market penetration

The degree to which a product has been accepted by the marketplace. Syn: market reach.

The output of the market planning process. The market plan includes the current market position, opportunity and issue analysis, marketing objectives and strategies, action plans, programs, projects, budgets, and pro forma profit and loss statement and management controls. Syn: brand plan, product plan.

The process of developing market plans for products and services. This process is composed of the following phases-identification; research and analysis of market opportunities; selection of target markets; development of marketing strategies; development of the marketing plans, programs, and projects; and management, execution, and control of the market plans, programs, and projects.


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