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16 Cards in this Set
- Front
- Back
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Strategic planning |
The process of developing and maintaining a fit between the organization's goals and capabilities and its changing marketing opportunities |
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Steps in Strategic Planning |
1. Define the company mission 2. Set company objectives and goals 3. Design the business portfolio 4. Generate planning, marketing, and other functional strategies |
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Mission |
The organization's larger purpose. What it wants to accomplish in the larger environment. |
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Objectives |
Concrete articulation of how the company will achieve its mission. Marketing strategies and programs support this. |
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Portfolio Analysis |
Management evaluates the products and businesses that make up the company. |
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Steps to analyze the current business portfolio |
1. Identify the key businesses in the company 2. Assess the attractiveness of each SBU 3. Decide how much support each SBU deserves |
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BCG Growth-Share Matrix |
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Product/Market Expansion Grid |
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Value Chain |
The series of departments that carry out value-creating activities to design, produce, market, deliver, and support the firm's products. |
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Value Delivery Network |
The company, suppliers, distributors, and customers who partner with each other to deliver value to customers. |
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Market segmentation |
Division of a market into distinct buyer groups who have distinct needs, characteristics and behaviors. May require separate products or marketing mixes. |
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Market targeting |
Process of evaluating each segment's attractiveness and selecting one or more to serve. |
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Market positioning |
The arrangement of a product to occupy a clear, distinctive, and desirable place relative to competing products in the mind of the target customer |
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4 Steps in Managing Marketing Effort |
1. Situation analysis 2. Develop strategic and marketing plans 3. Implementation 4. Control: measure and evaluate results |
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Market Planning |
Deciding on marketing strategies that will help the company attain its overall strategic objectives |
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Return on Marketing Investment (Marketing ROI) |
Net return from a marketing investment divided by the costs of the marketing investment. |
