Marketing Chapter 2

Front 1

Profit

Back 1

the money left over when total expensed are subtracted from total revenues

Front 2

Strategy

Back 2

is an organizations long term course of action designed to deliver a unique customer experience while achieving its goals

Front 3

Foundation

Back 3

is a legal categorization of nonprofit organizations that will typically either donate funds and support to other organizations, or provide the source of funding for its own charitable purposes.

Front 4

Core Values

Back 4

the fundamental passionate and enduring principles that guide its conduct over time

Front 5

Mission

Back 5

a statement of the organizations function in society that often identifies its customers markets products and technologies

Front 6

Organizational Culture

Back 6

a set of ideas attitudes and norms of behavior that is learned and shared among the members of an organization

Front 7

Business

Back 7

describes the clear broad underlying industry or market sector of an organizations offerings

Front 8

Goals/objectives

Back 8

statements of an accomplishment of a task to be achieved often by a specific time

Front 9

Market Share

Back 9

is the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry including the firm itself

Front 10

Marketing Plan

Back 10

a road map for the marketing activities of an organization for a specified future time period

Front 11

Business Plan

Back 11

formal statement of business goals, reasons they are attainable, and plans for reaching them. It may also contain background information about the organization or team attempting to reach those goals.

Front 12

Marketing Dashboard

Back 12

the visual computer display of the essential info related to achieving a marketing objective

Front 13

Marketing Metric

Back 13

measure of the quantitative value of trend of a marketing activity or result

Front 14

Business Portfolio Analysis

Back 14

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 seperate investments

Front 15

Diversification Analysis

Back 15

is a technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products

Front 16

Strategic Marketing Process

Back 16

an organization allocated its marketing mix resources to reach its target markets

Front 17

Situation Analysis

Back 17

is taking stock of where the firm or product has been recently where it is now and where it is headed in terms of the organizations marketing plans and the external forces and trends affecting it

Front 18

SWOT Analysis

Back 18

and acronym describing an organizations appraisal of its internal STRENGTHS and WEAKNESSES and its external OPPORTUNITIES and THREATS

Front 19

Market Segmentation

Back 19

involves aggregating prospective buyers into groups or segments that 1 have common needs and 2 will respond similarly to a marketing action

Front 20

Points of Difference

Back 20

those characteristics of a product that make it superior to competitive substitutes

Front 21

Marketing Tactics

Back 21

detailed day to day operational decisions essential to the overall success of marketing strategies