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13 Cards in this Set
- Front
- Back
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What is strategic planning? |
The process of developing a strategic fit between a company's objectives, capabilities and marketing opportunities. |
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What are the 4 steps of Strategic Planning? |
Corporate levels: 1. Define the company's mission 2. Set the company's goals and objectives 3. Design a business portfolio. 4. Planning marketing strategy |
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Business Portfolio |
Collection of business and products that make up the company |
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Portfolio Analysis |
Process of analyzing the company's current business portfolio |
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Strategic Business Units (SBUs) |
The key businesses of a company such as a company division, a product line, or a single product or brand |
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Growth-share matrix (draw matrix) |
A portfolio-planning method which evaluates a company's SBUs in terms of its market growth rate and market share. [Star, Dog, Cow, Question Mark] |
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Ansoff Matrix (draw matrix) |
A portfolio-planning tool to devise future growth in terms of product/expansion grid. [Market Penetration, Market Development, Product Development, Diversification] |
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Market Penetration |
Company growth by increasing market share by increasing sales of current products to its current target market. |
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Market Development |
Company growth by identifying and developing new market segments for current products |
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Product Development |
Company growth by offering new or modified products to the current target market |
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Diversification |
Company growth by starting up or acquiring businesses outside the company's current products and target market |
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Value Chain |
Series of internal departments that carry out value-creating activities to design, produce, market, deliver and support a firm's products. |
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Positioning |
A product or brand's position which is clear, distinct and desirable relative to competitors in the consumer's mind. |
