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10 Cards in this Set
- Front
- Back
What are the four steps in the strategic planning process in order? |
1. Company Mission 2. Set company objectives and goals 3. Design the business portfolio 4. Plan the market and other functional strategies |
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Most standard portfolio analysis methods evaluate strategic business units (SBU's) on their performance in two important dimensions. What are these two dimensions? |
1. The attractiveness of the SBU's Market or industry 2. The strength of the SBU's position in that market or industry |
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What are the four growth strategies identified find the product/market expansion grid? |
1. Market penetration 2. Product development 3. Market development 4. Diversification |
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For strategic planning purposes, marketing provides a guiding philosophy that suggests the company's strategy should revolve around creating customer value and building profitable relationships with important consumer groups. This philosophy is called ____________. |
The marketing concept |
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Products and Technologies eventually become outdated, but basic market needs can last forever. For this reason, company mission statements should be ________. |
Market-oriented |
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A company's external value delivery network consists of ___________. |
Suppliers, distributors, and customers |
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_____________ is the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require a separate marketing strategies or mixes. |
Market segmentation |
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What are the variables in a company's marketing mix? |
Product, price, place, and promotion |
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What are the five marketing management functions used to manage the marketing process? |
Analysis, planning, implementation, organization, and control. |
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What is SWOT? |
An analysis that evaluate a company's overall strengths (S), weaknesses (W), opportunities (O), and threats (T). |