FM 117 Lecture Notes - Lecture 15: Gross Margin, Profit Margin, Audio File Format

• School: FIT
• Department: Fashion Business Management
• Course: FM 117
• Professor: Charles Flug

Document Summary

Target market: a specific group of customers on whom an organization focuses its marketing efforts. Strategic marketing: the process of planning, implementing, and evaluating the performance of marketing activities and strategies, both effectively and efficiently. Disruptive marketing: a new way of exploiting old technologies or a new business model developed to give customers more than they"ve come to expect from current products in a specific market. Crm: using information about customers to create marketing strategies that develop and sustain desirable customer relationships. Mission statement: a sentence describing a company"s function, markets and competitive advantages; a short written statement of your business goals and philosophies. A mission statement defines what an organization is, why it exists, its reason for being. Gross margin/net margin: subtract cost of goods sold (cogs) from total revenue and dividing that number by total revenue (gross margin = (total revenue cost of goods.