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25 Cards in this Set
- Front
- Back
The process of developing and maintaing a strategic fit between the organizations goals and capabilities and its changing marketing opportunities.
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strategic planning
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A statement of the organizations purpose-what it wants to accomplish in the larger environment
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Mission Statement
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The collection of businesses and products that make up the company.
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Business portfolio
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The process by which management evaluates the products and businesses making up the company
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Portfolio analysis
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A portfolio-planning method that evaluates a company's strategic business units in terms of their market growth rate and relative market share. SBUs are classified as stars, cash, cows, questions marks, or dogs.
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Growth-share matrix
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A porfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification
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Product/market expansion grid
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A strategy for company growth by increasing sales of current products to current market segments without changing the product
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Market penetration
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A strategy for company growth by identifying and developing new market segments for current company products
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Market development
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A strategy for company growth by offering modified or new products to current market segments
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Product development
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A strategy for company growth through starting up or acquiring businesses outside the company's current products and markets
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Diversification
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Reducing the business portfolio by eliminating products of business units that are not profitable or that no longer fit the company's overall strategy.
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Downsizing
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The series of departments that carry out value-creating activities to design, product, market, deliver, and support a firm's products.
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Value chain
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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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Value-delivery network
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The marketing logic by which the business unit hopes to achieve its marketing objectives
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Marketing strategy
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Dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require separate products or marketing programs.
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Market Segmentation
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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 Segment
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The process of evaluating each market segments attractiveness and selecting one or more segments to enter
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Market targeting
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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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Positioning
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Actually differentiating the market offering to create superior customer value
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Differentiation
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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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Marketing mix
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An overall evaluation of the company's Strengths, Weaknesses, Opportunities, and Threats
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SWOT analysis
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The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives.
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Marketing implementation
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The process of measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are achieved.
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Marketing control
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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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Marketing audit
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The net return from a marketing investment divided by the costs of the marketing investment.
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Return on marketing investment
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