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24 Cards in this Set
- Front
- Back
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What is the role of the corporate level?
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To direct overall strategy.
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What is the role of the business unit level?
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To set the direction of individual products and/or markets.
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What is the role of the functional level?
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To actually create value.
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What is a mission statement?
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A flowery overall explanation of what a company/organization is about.
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What are goals or objectives?
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Statements that have been converted from the mission statement into targeted levels of performance.
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What are the four categories in BCG's business portfolio analysis?
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Question Marks
Dogs Cash Cows Stars |
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Question Marks?
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Fast market growth rate, small market share.
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Dogs?
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Slow market growth rate, small market share.
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Cash Cows?
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Slow market growth rate, large market share.
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Stars?
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Fast market growth rate, large market share.
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Market penetration?
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Current product, current market.
Get more of the market that you're currently in. |
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Product development?
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New product, current market.
Introduce a new product. |
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Market development?
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Current product, new market.
Same product, try it with a new market. |
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Diversification?
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New product, new market.
Brand new product and trying it in a brand new market. |
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Current product, current market.
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Market penetration?
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New product, current market
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Product development?
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Current product, new market
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Market development?
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New product, new market
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Diversification?
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What is a formalized strategic marketing process?
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Marketing Plan
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What are the 3 steps of a Marketing Plan?
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1.) Planning
2.) Implementation 3.) Control |
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What are the 3 steps of the Planning phase in the Marketing Plan?
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1.) SWOT analysis
2.) Market-Product focus and goal setting 3.) Develop Marketing Mix/Plan |
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What are the most important aspects of the Marketing Mix?
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The 4 Ps:
Product Price Place Promotion |
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What are the 4 steps to the Implementation phase in the Marketing Plan?
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1.) Obtain resources
2.) Set up marketing organization 3.) Set up deadlines/timelines 4.) Execute marketing plan via marketing strategy. |
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What are the 2 steps to the Control phase in the Marketing Plan?
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1.) Compare results to the goals set in the Planning phase
2.) Correct for any deviations. |
