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27 Cards in this Set
- Front
- Back
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Strategy
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Organization's long-term course of action designed to deliver a unique customer experience while achieving its goals
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Corporate Level
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Top management directs overall strategy for the entire organization.
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Strategic business unit
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A subsidiary, division, or unit of an organization that markets a set of related offerings to a clearly defined group of customers
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Functional Level
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Groups of specialists actually create value for the organization
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Cross-functional teams
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A small number of people from different departments who are mutually accountable to accomplish a task or a common set of performance goals
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Core Values
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The fundamental, passionate, and enduring principles that guide its conduct over time
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Mission
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Statement of the organization's function in society that often identifies its customers, markets, products, and technologies
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Organizational Culture
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Set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization.
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Business Model
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Strategies an organization develops to provide value to the customers it serves.
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Market Share
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Ratio of sales revenue of the firm to the total sales revenue of all firms in the industry
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Business
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Describes the clear, broad, underlying industry or market sector of an organization's offering.
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Goal or Objectives
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Statements of an accomplishment of a task to be achieved, often by a specific time.
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Marketing Dashboard
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The visual computer display of the essential information related to achieving a marketing objective.
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Marketing Metric
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A measure of the quantitative value or trend of a marketing activity or result.
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Data Visualization
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Presents information about an organization's marketing metrics graphically so marketers can quickly:
1. Spot deviations from plans 2. Take corrective actions |
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Marketing Plan
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A road map for the marketing activities of an organization for a specified future time period, such as one year or five years.
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Competitive Advantage
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A unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation.
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Business portfolio analysis
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Developed by Boston Consulting Group
- A technique that managers use to quantify performance measures and growth targets to analyze their firms' strategic business units (SBU) as though they were a collection of separate investments. |
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Market Growth Rate
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Annual rate of growth of the SBU industry.
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Four Quadrants in growth share mix
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Cash Cow
- Large amounts of cash, dominant shares of slow growth markets Stars - High share of high-growth markets that may need extra cash Question Marks - Low share of high growth markets Dog - Low shares of slow growth markets |
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Diversification Analysis
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Technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products
Considers four market-product strategies: 1. Market Penetration 2. Market Development 3. Product development 4. Diversification |
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Strategic Marketing Process
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An organization allocates its marketing mix resources to reach its target markets
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SWOT analysis
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Strengths, Weaknesses, Opportunities, & Threats
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Market Segmentation
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Involves aggregating prospective buyers into groups, or segments, that:
1. have common needs and 2. will respond similarly to a marketing action |
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Points of difference
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Characteristics of a product that make it superior to competitive substitutes.
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Marketing Strategy
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Means by which a marketing goal is to be achieved, usually characterized by a specific target market and marketing program to reach it.
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Marketing Tactics
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Detailed day-to-day operational decisions essential to the overall success of marketing strategies.
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