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23 Cards in this Set
- Front
- Back
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strategic planning |
the process of developing and maintaining a strategic fit between the organizations goals and capabilities and its changing marketing opportunities |
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mission statement |
a statement of the organizations purpose - what it wants to accomplish in the larger environment |
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business portfolio |
the collection of business and products that make up the company |
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portfolio analysis |
the process by which management evaluates the products and businesses that make up the company |
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Growth-share-matrix |
a portfolio-planning method that evaluates a companys SBU in terms of market growth rate and relative market share |
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product/market expansion grid |
a portfolio planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification |
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market penetration |
company growth by increasing sales of current products to the current market segments without changing the product |
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market development |
company growth by identifying and developing new market segments for current company products |
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product development |
company growth by offering modified or new products to current market segments |
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diversification |
company growth through starting up or acquiring businesses outside the companys current products and markets |
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value chain |
the series of internal departments that carry out value creating activities to design, deliver, market, produce and support a firms products |
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value delivery network |
the network made up of the company, its suppliers, its distributors and ultimately its customers who partner with each other to improve the performance of the entire system |
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marketing strategy |
the marketing logic by which the company hopes to create customer value and achieve profitable customer relationships |
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market segmentation |
dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate products or marketing products |
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market segment |
a group of customers who respond in a similar way to a given set of marketing efforts |
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market targeting |
the process of evaluating each market segments attractiveness and selecting one or more segemnts to enter |
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positioning |
arranging for a product to occupy a clear, distinctive, desirable place relative to competing products in the minds of target consumers |
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differentiation |
actually differentiate the market offering to create superior customer value |
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marketing mix |
the set of tactical marketing tools - product, price, place and promotion - that the firm blends to produce the response it wants in the target market |
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SWOT analysis |
the overall analysis of a companys strengths, weaknesses, opportunities and threats |
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marketing implementation |
turning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives |
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marketing control |
measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved |
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marketing return on investment (marketing ROI) |
the net return from a marketing investment divided by cost of a marketing investment |
