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28 Cards in this Set

  • Front
  • Back

What is strategic planning?

The process of developing and maintaining a strategic fit between the organisation's goals and capabilities and its changing market opportunities

What is a business portfolio?

The collection of businesses and products that make up the company

What is portfolio analysis?

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

What is growth-share matrix?

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

What does SBU stand for and what are the four types?

Strategic business units.
Dogs, stars, cash cows and question marks



* Stars = high-growth, high-share businesses or products

* Dogs = low-growth, low-share businesses or products

* Question marks = low-share businesses units in high-growth markets
* Cash cows = low-growth, high-share businesses or products

What is product/market expansion grid?

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

What is market penetration?

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



The product/market expansion grid. Used to identifying market growth opportunities

What is market development?

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

What is product development?

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

What does diversification mean?

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

What is a value chain?

The series or internal departments that carry out value-creating activities to design, produce, market, deliver and support a firm's products.
Ex. Walmart "Save money - Live better"

What is value delivery network?

The network made up of the company, it's suppliers, its distributors and its customers who partner with each other to improve the performance of the entire system

What is marketing strategy?

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



Managing marketing strategies and the marketing mix.
Summarises the major activities involved in managing a customer-driven marketing strategy and the marketing mix

What is segmentation?

Dividing a market into distinct groups of buyers who have different needs, characteristics or behaviour and who might require separate products or marketing programs

What is a marketing segment?

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

What is marketing targeting?

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

What is positioning?

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

What is differentiation?

Actually differentiating the market offering to create superior customer value

What is the marketing mix?

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

What are the 4 Ps of the Marketing mix?

* Product - variety, quality, design, brand name..
* Promotion - ads, personal selling, sales promotion..
* Price - list price, discounts, credit terms..

* Place - channels, locations, inventory, transportation..

What is a SWOT-analysis?

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



A SWOT-analysis = the analysis of the company's situation

What is marketing implementation?

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

What is marketing control?

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

What does ROI stand for?

Return on marketing investment = the net return from a marketing investment divided by the costs of the marketing investment