Ch 2 Intro To Marketing

Front 1

first mover strategy

Back 1

Theory advocating that the company first to offer a product in a market place will be the long-term market winner

Front 2

Marketing mix

Back 2

Blending of the 4 strategy elements 《product, distribution, promotion, and pricing》 to fit the needs and preferences of a specific target market

Front 3

Marketing planning

Back 3

Implementing planning activities devoted to achieving marketing objectives

Front 4

Marketing strategy

Back 4

Overall, companywide wide program for selecting a particular target market and then satisfying consumers in that market through the marketing mix

Front 5

Mission

Back 5

Essential purpose that differentiates one company from others

Front 6

Planning

Back 6

process of anticipating future events and conditions and of determining the best way to achieve organizational objectives

Front 7

Porter's Five Forces

Back 7

Model developed by strategy expert Michael Porter that identifies five competitive forces that influence planning strategies

Front 8

Second mover strategy

Back 8

Theory that advocates observing closely the innovations of first movers and then improving on them to gain advantage in the marketplace

Front 9

Strategic business units (SBUs)

Back 9

Key business units within diversified firms.

Front 10

Strategic planning

Back 10

Process of determining an organization's primary objectives and adopting courses of action that will achieve these objectives

Front 11

Strategic window

Back 11

Limited periods when key requirements of a market and a firm's particular competencies best fit together

Front 12

SWOT analysis

Back 12

Review that helps planners compare internal organizational strengths and weaknesses with external opportunities and threats

Front 13

Tactical planning

Back 13

Planning that guides the implementation of activities specified in the strategic plan