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25 Cards in this Set

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