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22 Cards in this Set
- Front
- Back
What does a corporate strategic plan do?
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Provides guidance for strategic planning at all other organizational levels.
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What does a business strategic plan do?
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Indicates how each business unit in the corporation family expects to compete effectively in the marketplace
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What does a product marketing plan include?
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Both strategic decisions(what to do) and execution decisions(how to do it).
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What is the general strategic planning process?
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1. examine current situation
2. identify potential threats and possibilities 3. set objectives 4. develop strategies 5. execute |
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What is strategic marketing?
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Marketing activities that affect corporate, business, and marketing strategic plans.
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What is a company's core values?
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The small set of guiding principles that represent the enduring tenants of an organization.
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What is a core purpose?
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Reflects a company's reason for being or its idealistic motivation for doing work.
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What is a market penetration strategy?
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A decision to achieve corporate growth objectives with existing products within existing markets.
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What is a marketing expansion strategy?
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Marketing existing products to new markets.
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What is a product expansion strategy?
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Marketing new products to the same market.
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What is a diversification strategy?
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When a firm expands into new products and new markets.
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What are the basic options of an entry strategy?
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licensing, exporting, joint ventures, and direct investment.
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What is exporting?
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A method of selling products to buyers in international markets.
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What is a direct investment?
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Where the marketer invests in production, sales, distribution, or other options in the foreign country.
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What are joint ventures?
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Any arrangement between two or more organizations to market products in an international market.
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What is a standardized marketing strategy?
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A firm develops and impliments the same product, price, promotion, distribution programs in all international markets.
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What is a customized marketing strategy?
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When a firm develops and impliments a different marketing mix for each target market country.
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What is a company's core competency?
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A bundle of skills that are possessed by individuals across the organization.
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What is an SBU?
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Strateic Business Unit. A single product or group of related products that meets a common market need or a group of related needs.
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What is a growth share martrix?
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Classifies the company's portfolio of SBU's into 4 categories, stars, ? marks, cash cows, and dogs.
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What is cross-functional teamwork?
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Sending miltifuncional teams from marketing, manufacturing, engineering, and R&D to visit specific customers regularly.
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What are co-marketing alliances?
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Contractual arrangements between companies offering complementary products in the market place.
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