Csulb Marketing 500 Ch 2

Front 1

Strategic Planning

Back 1

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

Front 2

Mission Statement

Back 2

A statement of the organizations propose - what it wants to accomplish in the larger environment.

Front 3

Portfolio Analysis

Back 3

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

Front 4

Growth-share matrix

Back 4

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

Front 5

Market Penetration

Back 5

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

Front 6

Market Development

Back 6

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

Front 7

Product Development

Back 7

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

Front 8

Diversification

Back 8

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

Front 9

Value Chain

Back 9

Internal departments that carry out value - creating activities to design, produce, market, deliver, and support a firm's products.

Front 10

Value Delivery Network

Back 10

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 11

Marketing Strategy

Back 11

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

Very similar to customer relationship management.

Front 12

Market Segmentation

Back 12

Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing or mixes.

Front 13

Market Segment

Back 13

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

Front 14

Market Targeting

Back 14

Evaluating each market segment's attractiveness and selecting one or more segments to sell to.

Front 15

Positioning

Back 15

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

Front 16

Differentiation

Back 16

Actually differentiating the market offering to create superior customer value.

Front 17

Marketing Mix

Back 17

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

Front 18

SWOT analysis

Back 18

An overall evaluation of the company's strengths, weaknesses, opportunities, and threats.

Front 19

Marketing Implementation

Back 19

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

Front 20

Marketing Control

Back 20

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

Front 21

Marketing Return On Investment (ROI)

Back 21

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

Front 22

Neuromarketing

Back 22

Using technologies such as functional magnetic resonance imaging or eye tracking to measure consumers physiological reactions to products and marketing.

Front 23

Mission

Back 23

States fundamental purpose of company; its core ideology.

Front 24

Five Competitive Forces affecting industrial profitability and attractiveness

Back 24

1. Rivalry among current competitors

2. Number of potential entrants into the industry

3. Bargaining power of suppliers

4. Bargaining power of buyers

5. Potential presented by substitute products

Front 25

Cost leadership strategy

Back 25

When you seek to become the lowest - cost producer in the industry.

Front 26

Differentiation Strategy

Back 26

When you create a unique differentiation based on some factor valued by target market

Front 27

Focus Strategy

Back 27

When you narrow the competitive scope to achieve a competitive advantage in your chosen segments.

Front 28

Product/Market expansion grid

Back 28

A portfolio planning tool for identifying company growth through market penetration, Market development, product development, and diversification.