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24 Cards in this Set
- Front
- Back
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The process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities
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Strategic Planning
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A statement of the organizations purpose- what it wants to accomplish in the larger environment
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Mission Statement
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The collection of businesses and products that make up the company
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Business Portfolio
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The process by which management evaluates the products and businesses making up the company
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Portfolio analysis
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A portfolio-planning method that evaluates a companys strategic business units in terms of their market growth rate and relative market share. SBUs are classified as stars, cash cows, question marks, or dogs.
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Growth-share matrix
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A portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development or diversification.
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Product/market expansion grid
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A strategy for company growth by increasing sales of current products to current market segments without changing the product.
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Market penetration
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A strategy for company growth by identifying and developing new market segments for current company products.
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Market development
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A strategy for company growth by offering modified or new products to current market segments.
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Product development
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Reducing the business portfolio by eliminating products of business units that are not profitable or that no longer for the companys overall strategy
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Diversification
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The series of departments that carry out value-creating activities to design, produce, market, deliver, and support a firms product
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Value chain
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the network made up of the company, suppliers, distributors, and ultimately customers who "partner" with each other to improve the performance of the entire system
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Value delivery network
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The marketing logiv by which the business unit hopes to create customer value and achieve profitable customer relationships.
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Marketing Strategy
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Dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require seperate products or marketing programs.
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Market Segmentation
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A group of consumers who respond in a similar way to a given set of marketing efforts.
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Market Segment
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The process of evaluating each market segment's attractiveness and selecting one or more segments to enter.
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Market tagging
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Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
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Positioning
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Actually differentiating the market offering to create superior customer value
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Differentiation
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The set of controllable tactical marketing tools-product,price,place and promotion- that the firm blends to produce the response it wants in the target market.
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Marketing mix
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An overall evaluation of the companys strengths, weaknesses, opportunities, and threats
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SWOT analysis
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The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives
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Marketing implementation
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The process of measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are ahcieved.
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Marketing control
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A comprehensive, systematic, independent, and periodic examination of a companys environment, objectives, strategies, and activies to determine problem areas and opportunities and to recommend a plan of action to improve the companys marketing performance
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Marketing audit
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The net return from a marketing investment divided by the costs of the marketing investment
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Return on Marketing investment
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