Marketing - Chapter 2

Front 1

Three phases of value creation and delivery sequence

Back 1

1. Choosing the value (the homework marketing must do before any product exists).
2. Providing the value (determine specific features, prices, and distribution).
3. Communicating the value (utilizing sales force, Internet, advertising, etc.).

Front 2

Value Chain

Back 2

A tool for identifying ways to create more customer value. This identifies nine strategically relevant activites that create value and cost in a specific business

Front 3

Primary Activities of the Value Chain

Back 3

1. Inbound logistics, or bringing materials into the business.
2. Operations, or converting materials into final products.
3. Outbound logistics, or shipping out final products.
4. Marketing, which includes sales.
5. Service.

Front 4

Support Activities of the Value Chain

Back 4

1. Procurement
2. Technology Department
3. Human Resource Management
4. Firm Infrastructure

Front 5

The market-sensing process

Back 5

All the activties in gathering and acting upon information about the market.

Front 6

The new-offering realization process

Back 6

All the activities in researching, developing, and launching new high-quality offerings quickly and within budget.

Front 7

The customer acquisition process

Back 7

All the activities in buliding deeper understanding, relationships, and offerings to individual customers.

Front 8

The fulfillment management process

Back 8

All the activities in receiving and approving orders, shipping the goods on time, and collecting payment.

Front 9

Core Competency Characteristics

Back 9

1. It is a source of competitive advantage and makes a significant contributino to perceived customer benefits.
2. It has applications in a wide variety of markets.
3. It is difficult for competitors to imitate.

Front 10

Value Exploration

Back 10

How a company identifies new value opportunities

Front 11

Value Creation

Back 11

How a company efficiently creates more promising new value offerings.

Front 12

Value Delivery

Back 12

How a company uses its capabilities and infrastructure to deliver the new value offerings more efficiently.

Front 13

Marketing Plan

Back 13

The central instrument for directing and coordinating the marketing effort. It operates at two levels: strategic and tactical

Front 14

Strategic Marketing Plan

Back 14

Lays out the target markets and the firm's value proposition, based on an analysis of the best market opportunities.

Front 15

Tactical Marketing Plan

Back 15

Specifies the marketing tactics, including product features, promotion, merchandising, pricing, sales channels, and service.

Front 16

Four planning activities all corporate headquarters undertake.

Back 16

1. Defining the corporate mission
2. Establishing strategic business units.
3. Assigning resources to each strategic business unit.
4. Assessing growth opportunities.

Front 17

Five major characteristics of a good mission statement

Back 17

1. They focus on a limited number of goals.
2. They stress the company's major policies and values.
3. They define the major competitive spheres within which the company will operate.
4. They take a long-term view.
5. They are as short, memorable, and meaningful as possible.

Front 18

Three characteristics of a Strategic Business Unit

Back 18

1. It is a single business, or a collection of related businesses, that can be planned separately from the rest of the company.
2. It has its own set of competitors.
3. It has a manager responsible for strategic planning and profit performance, who controls most of the factors affecting profit.

Front 19

Organization

Back 19

Consists of its structures, policies, and corporate culture, all of which can become dysfunctional in a rapidly changing business environemtn.

Front 20

Corporate Culture

Back 20

The shared experiences, stories, beliefs, and norms that characterize an organization.

Front 21

Scenario Analysis

Back 21

A view of the future that develops plausible representations of a firm's possible future using assumptions about forces driving the market and different uncertainties.

Front 22

The 12 Dimensions of Business Innovation: Offerings (WHAT)

Back 22

Offerings develop innovative new products or services.

Front 23

The 12 Dimensions of Business Innovation: Platform

Back 23

Platforms use common compoenents or building blocks to create derivative offerings.

Front 24

The 12 Dimensions of Business Innovation: Solutions

Back 24

Solutions create integrated and customized offerings that solve end-to-end customer problems.

Front 25

The 12 Dimensions of Business Innovation: Customers (WHO)

Back 25

Customers discover unmet customer needs or identify underserved customer segments.

Front 26

The 12 Dimensions of Business Innovation: Customer Experience

Back 26

Customer experiences redesign customer interactions across all touch points and all moments of contact.