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23 Cards in this Set

  • Front
  • Back
Strategic Planning
the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunitie. It involves defining a clear company mission, setting supporting objectives, designing a soun business portfolio, and coordinating functional strategies
mission statement
a statement of the organization's purpose
business portfolio
the collection of business and products that make up the company
portfolio analysis
the process by which management evaluates the products and businesses making upthe company
growth-share mix
method that evaluates a company's strategic business units in terms of their market growth rate and relative market share
product/market expanision grid
planning tool for identifying company growth opportunities through markert penetration, market development, prodcut development or diversification
market penetration
strategy for company growth by increasing sales of current products to current market segments without changing the product
market development
a strategy for company growth by identifying and developing new market segments for current products
product development
a strategy for company growth by offering modified or new products to current market segments
a strategy for company growth through starting up or acquring businesses outside the company's current products or markets
marketing strategy
the marketing logic by which business unit hopes to achieve its marketing objectives
market segmentation
dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require seperate products or marketing mixes
market segment
a group of consumers who respond in a similar way to a given set of marketing efforts
target marketing
process of evaluating each market segment's attractivenss and selecting one or more segments to enter
market positioning
arranging for a product to occupy a clear, distincitve and desirable place relative to competing products in the minds of target consumers
marketing implementation
process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives
Return on Marketing (ROI)
net return from a marketing investment divided by the costs of the marketing investment
reducing the business portfolio by eliminating products or business units that are not profitable or that no longer fit the company's overall strategy
marketing audit
a comprehensive, systematic, independent, and periodic examination of a company's environment, strategies and activiest to determine what needs to be changed to improve marketing performance
marketing control
process of measuring and evaluating the results of marketing strategies and plans, and taking corrective action to ensure that objectives are achieved
marketing mix
the set of controllable tactical marketing tools--product, price, place, and promoton--that the firm blends to produce the response it wants in the target market
value chain
series of departments that carry out value-creating activities to design, produce, market, deliver and support a firm's products
value-delivery network
network made up of the company, suppliers, distributors, and ultimately customers who "partner" with each other to improve the performace of the entire system