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24 Cards in this Set
- Front
- Back
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Strategic Planning
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The process of developint and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities.
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Mission Statement
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A statement of the organizations purpose. What it wants to accomplish in the larger environment.
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Business Portfolio
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The collection of businesses and products that make up the company.
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Portfolio Analysis
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The process by which management evaluaates the products and businesses making up the company.
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Growth share matrix
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A portfolio planning method that evaulates a company's strategic business units in terms of their market growth rate and relative market share.
SBU's are classified as stars, cash cows, question marks or dogs. (Boston Consulting Group growth share matrix). |
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Product/market expansion grid.
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A portfolio planning tool for identifying company growth opportunities through market penetration, market development, product development or diversification.
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Market penetration
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Company growth by increasing sales of current products to current market segments without changing the product.
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Market development
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Company growth by identifying and developing new market segments for current company products.
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Product Development
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Company growth by offering modified or new products to current market segments
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Diversification
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Company growth through starting up or acquiring businesses outside the company's current products and markets.
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Value Chain
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The series of departments that carry out value creating activities to design produce market deliver and support a firms products.
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Value Delivery Network
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The network made up of the company suppliers, distributors, and ultimately customers who partner with each other to improve the performance of the entire system.
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Marketing Strategy
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The marketing logic by which the business unit hopes to create customer value and achieve profitable customer relationships.
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Market Segmentation
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Dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behaviour and who might require separate products or marketing programs.
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Market Segment
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A group of consumers who respond in a similar way to a given set of marketing efforts.
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Market Targeting
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The process of evaluating each market segments attractiveness and selecting one or more segments to enter.
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Positioning
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Arranging for a product to occupy a clear, distinctive and desirable place relative to competing products in the minds of target consumers.
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Differentiation
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Actually differentiating the market offering to create superior customer value.
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Marketing Mix
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The set of controllable 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
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An overall evaluation of the company's Strengths (Internal capabilities that may help a company reach its objectives), Weaknesses (Internal limitations that may interfere with a company's ability to achieve its objectives), Opportunities (External factors that the company may be able to exploit to its advantage), Threats (Current and emerging external factors that may challenge the company's performance)
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Marketing Implementation
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Turning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives.
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Marketing Control
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Measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are achieved.
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Return in Marketing Investment/
Marketing ROI |
The net return from a marketing investment divided by the cost of the marketing investments.
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Marketing Audit
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A comprehensive systematic, independent, and periodic examination of a company's environment, objectives, strategies and activities to determine problem areas and opportunities and to recommend a plan of action to improve the company's marketing performance.
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