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26 Cards in this Set
- Front
- Back
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corporate level
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top mgmt directs overall strategy for entire org
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busines unit
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org that markets a set of related products to a clearly defined group of customers
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business unit level
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lvl at which business unit mgers set the direction for their products and markets to exploit value-creating opportunities
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functional level
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where groups of specialists create value for the org
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cross-functional teams
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small number of pple from diff departments in an org who are mutually accountable to a common set of performance goals
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mission
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statement of the org's scope
identifies markets, customers, products, tech, and values |
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goals/objectives
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mission into targeted levels of performance to be acheived: profit, sales, market share, quality, customer satisfaction, employee welfare, social responsibility
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competencies
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org's special capabilities, skills, tech, and resources that distinguish it from other orgs; exploit for success
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competitive advantage
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unique strength rel to competitiors; based on quality, time, cost, or innovation
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Business portfolio analysis
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uses quantified performance measures and growth targets to analyze a firm's business units (SBUs) as though they were a colloection of sep investments
usually ?, then star, cash cow, dog |
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cash cows
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high cash, low growth
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stars
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low cash, high growth
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? or problem children
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low cash, high growth
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dogs
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low cash, low growth
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market penetration
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increasing sales in existing market
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market development
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same product, new market
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product development
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new product, same market
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diversification
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new product, new market
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situation analysis
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taking stock of where the firm/product has been recently, where it is now, and where it is headed in terms of org's plans and external factors and trends affecting it
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SWOT analysis
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internal Strengths, Weaknesses, and external Opportunities and Threats
-id trends in industry -analyze competitors -assess firm -research present and prospective customers use to: build on a srength, correct a weakness, exploit an opportunity, avoid a threat |
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market segmentation
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segments have: common needs and will respond similarly to marketing action
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Goal setting
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set marketing and product goals, select target markets, find points of difference(what makes product diff from competitive sub), position the product
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marketing mix strategies
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product strategy, price strategy, promotion strategy, place (distribution) strategy
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4 components of implementation phase
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obtain resources, design marketing org, develop schedules, execute marketing program designed in planning phase
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control phase
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compare results of marketing program w/goals in written plans to id deviations, acto on these deviations by correcting negative deviations and exploiting positive ones
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planning gap
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diff btwn projection of the path to read a new goal and projection of the path of the results of a plan already in place
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