Chapter 2 - Planning And Marketing Environment

Front 1

BCG - Growth Market Share Matrix

Back 1

A portfolio analysis model developed by the Boston Consulting Group that assesses the potential successful products to generate cash that the company can then use to invest in new products.

Front 2

Brand Competition

Back 2

When companies offering similar goods or services compete on the basis of their brands reputation or perceived benefits.

Front 3

Business cycle

Back 3

The overall patterns of change in the economy - including periods of prosperity, recession, depression and recovery - that effect the consumer and business purchasing power.

Front 4

Business plan

Back 4

A plan that includes the decision that guides the entire organisation.

Front 5

Business planinng

Back 5

An ongoing process of making decisions that guide the company both in the short term and in the long term.

Front 6

Business portfolio

Back 6

The group of different products or brands owned by an organisation and characterized by different income-generating and growth capabilities.

Front 7

Competitive Intelligence

Back 7

The process of gathering and analyzing publicly available information about rivals.

Front 8

Control

Front 9

Corporate Culture

Back 9

The set of values, norms and beliefs that influence the behavior of everyone in the organisation.

Front 10

Demographics

Front 11

Discretionary Income

Back 11

The portion of income people have left over after they have paid necessities like rent food and bills.

Front 12

External Environment

Back 12

The uncontrollable elements outside of an organisation that effect its performance either positively or negatively.

Front 13

Functional Planning

Back 13

A decision process that concentrates on developing detailed plans for strategies and tactics for the short term that support an organisations long term strategic plan.

Front 14

Internal Environment

Back 14

The controllable elements inside an organisation, including its people, its facilities and how it carries out the tasks that influence its operations.

Front 15

Internal Planning

Front 16

Mission Statement

Back 16

A formal statement in an organisations strategic plan that describes the overall purpose of the organisation and what it aims to achieve in terms of its customers, products and resources.

Front 17

Monopolistic Competition

Back 17

A market structure in which many companies, each having slightly different products, offer unique consumer benefits.

Front 18

Monopoly

Back 18

A market situation in which one company, the only supplier of a product, is able to control the price, quality and supply of that product.

Front 19

Oligiopoly

Back 19

A market structure in which a relatively small number of sellers, each holding a substantial share of the market, compete in a market with many buyers.

Front 20

Operational Planning

Back 20

An decision process that focuses on developing plans for day-to-day activities that carry out an organisations functional plans.

Front 21

Operational Plans

Front 22

Perfect Competition

Back 22

A market structure in which many small sellers offer basically the same product.

Front 23

PEST Analysis

Back 23

An analysis of the political, economical, sociocultural and technological external environmental factors that can affect an organisation.

Front 24

PESTE Analysis

Back 24

An analysis of the political, economical, sociocultural, technological and natural environment factors that can affect an organisation.

Front 25

Portfolio Analysis

Back 25

A management tool for analyzing a company's business mix and assessing the potential of its strategic business units.

Front 26

Product Competition

Back 26

When companies offering different products compete to satisfy the same consumer needs and wants.

Front 27

SMART Criteria

Back 27

Objectives should be scientific, measurable, attainable, realistic and have a time frame.

Front 28

SBU

Back 28

Strategic Business Units are individual units within a company that operate like separate businesses, with each having its own mission, business objectives, resources, managers and competition.

Front 29

Strategic Planning

Back 29

A managerial decision process that matches an organisations resources and capabilities to its market opportunities for long term growth and survival.

Front 30

SWOT Analysis

Back 30

An analysis of an organisations strengths and weaknesses and the opportunities and threats to in its internal and external environment.