Pom Ch.2 (951)

Front 1

Strategic planning

Back 1

The process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities.

Front 2

Mission statement

Back 2

A statement of the organization’s purpose—what it wants to accomplish in the larger environment.

Front 3

Mission statement

Back 3

A statement of the organization’s purpose—what it wants to accomplish in the larger environment.

Front 4

Business portfolio

Back 4

The collection of businesses and products that make up the company.

Front 5

Portfolio analysis

Back 5

The process by which management evaluates the products and businesses that make up the company.

Front 6

Growth-share matrix

Back 6

A portfolio-planning method that evaluates a company’s SBUs in terms of its market growth rate and relative market share.

Front 7

Product/market expansion grid

Back 7

A portfolio-planning tool for identifying company growth opportunities through market penetration,market development, product development,or diversification.

Front 8

Market penetration

Back 8

Company growth by increasing sales of current products to current market segments without changing the product.

Front 9

Market development

Back 9

Company growth by identifying and developing new market segments for current company products.

Front 10

Product development

Back 10

Company growth by offering modified or new products to current market segments.

Front 11

Diversification

Back 11

Company growth through starting up or acquiring businesses outside the company’s current products and markets.

Front 12

Value chain

Back 12

The series of internal departments that carry out value-creating activities to design, produce, market, deliver, and support a firm’s products.

Front 13

Value delivery network

Back 13

A network composed of the company, suppliers, distributors, and, ultimately, customers who “partner”with each other to improve the performance of the entire system in delivering customer value.

Front 14

Marketing strategy

Back 14

The marketing logic by which the company hopes to create customer value and achieve profitable customer relationships.

Front 15

Market segmentation

Back 15

Dividing a market into smaller segments with distinct needs,characteristics, or behavior that might require separate marketing strategies or mixes.

Front 16

Market segment

Back 16

A group of consumers who respond in a similar way to a given set of marketing efforts.

Front 17

Market targeting

Back 17

The process of evaluating each market segment’s attractiveness and selecting one or more segments to enter.

Front 18

Positioning

Back 18

Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

Front 19

Differentiation

Back 19

Actually differentiating the market offering to create superior customer value.

Front 20

Marketing mix

Back 20

The set of tactical marketing tools—product, price, place, and promotion—that the firm blends to produce the response it wants in the target market.

Front 21

SWOT analysis

Back 21

An overall evaluation of the company’s strengths (S), weaknesses (W), opportunities(O), and threats (T).

Front 22

Marketing implementation

Back 22

Turning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives.

Front 23

Marketing control

Back 23

Measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved.

Front 24

Return on marketing investment

(or marketingROI)

Back 24

The net return from a marketing investment divided by the costs of the marketing investment.