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22 Cards in this Set

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What does a corporate strategic plan do?
Provides guidance for strategic planning at all other organizational levels.
What does a business strategic plan do?
Indicates how each business unit in the corporation family expects to compete effectively in the marketplace
What does a product marketing plan include?
Both strategic decisions(what to do) and execution decisions(how to do it).
What is the general strategic planning process?
1. examine current situation
2. identify potential threats and possibilities
3. set objectives
4. develop strategies
5. execute
What is strategic marketing?
Marketing activities that affect corporate, business, and marketing strategic plans.
What is a company's core values?
The small set of guiding principles that represent the enduring tenants of an organization.
What is a core purpose?
Reflects a company's reason for being or its idealistic motivation for doing work.
What is a market penetration strategy?
A decision to achieve corporate growth objectives with existing products within existing markets.
What is a marketing expansion strategy?
Marketing existing products to new markets.
What is a product expansion strategy?
Marketing new products to the same market.
What is a diversification strategy?
When a firm expands into new products and new markets.
What are the basic options of an entry strategy?
licensing, exporting, joint ventures, and direct investment.
What is exporting?
A method of selling products to buyers in international markets.
What is a direct investment?
Where the marketer invests in production, sales, distribution, or other options in the foreign country.
What are joint ventures?
Any arrangement between two or more organizations to market products in an international market.
What is a standardized marketing strategy?
A firm develops and impliments the same product, price, promotion, distribution programs in all international markets.
What is a customized marketing strategy?
When a firm develops and impliments a different marketing mix for each target market country.
What is a company's core competency?
A bundle of skills that are possessed by individuals across the organization.
What is an SBU?
Strateic Business Unit. A single product or group of related products that meets a common market need or a group of related needs.
What is a growth share martrix?
Classifies the company's portfolio of SBU's into 4 categories, stars, ? marks, cash cows, and dogs.
What is cross-functional teamwork?
Sending miltifuncional teams from marketing, manufacturing, engineering, and R&D to visit specific customers regularly.
What are co-marketing alliances?
Contractual arrangements between companies offering complementary products in the market place.