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17 Cards in this Set
- Front
- Back
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Strategic Planning
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the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunitie. It involves defining a clear company mission, setting supporting objectives, designing a soun business portfolio, and coordinating functional strategies
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mission statement
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a statement of the organization's purpose
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business portfolio
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the collection of business and products that make up the company
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portfolio analysis
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the process by which management evaluates the products and businesses making upthe company
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growth-share mix
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method that evaluates a company's strategic business units in terms of their market growth rate and relative market share
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product/market expanision grid
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planning tool for identifying company growth opportunities through markert penetration, market development, prodcut development or diversification
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market penetration
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strategy for 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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a strategy for company growth by identifying and developing new market segments for current products
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product development
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a strategy for company growth by offering modified or new products to current market segments
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diversification
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a strategy for company growth through starting up or acquring businesses outside the company's current products or markets
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marketing strategy
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the marketing logic by which business unit hopes to achieve its marketing objectives
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market segmentation
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dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require seperate products or marketing mixes
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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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target marketing
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process of evaluating each market segment's attractivenss and selecting one or more segments to enter
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market positioning
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arranging for a product to occupy a clear, distincitve and desirable place relative to competing products in the minds of target consumers
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marketing implementation
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process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives
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Return on Marketing (ROI)
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net return from a marketing investment divided by the costs of the marketing investment
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