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24 Cards in this Set

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  • Back
The process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities
Strategic Planning
A statement of the organizations purpose- what it wants to accomplish in the larger environment
Mission Statement
The collection of businesses and products that make up the company
Business Portfolio
The process by which management evaluates the products and businesses making up the company
Portfolio analysis
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.
Growth-share matrix
A portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development or diversification.
Product/market expansion grid
A strategy for company growth by increasing sales of current products to current market segments without changing the product.
Market penetration
A strategy for company growth by identifying and developing new market segments for current company products.
Market development
A strategy for company growth by offering modified or new products to current market segments.
Product development
Reducing the business portfolio by eliminating products of business units that are not profitable or that no longer for the companys overall strategy
The series of departments that carry out value-creating activities to design, produce, market, deliver, and support a firms product
Value chain
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
Value delivery network
The marketing logiv by which the business unit hopes to create customer value and achieve profitable customer relationships.
Marketing Strategy
Dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require seperate products or marketing programs.
Market Segmentation
A group of consumers who respond in a similar way to a given set of marketing efforts.
Market Segment
The process of evaluating each market segment's attractiveness and selecting one or more segments to enter.
Market tagging
Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
Actually differentiating the market offering to create superior customer value
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.
Marketing mix
An overall evaluation of the companys strengths, weaknesses, opportunities, and threats
SWOT analysis
The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives
Marketing implementation
The process of measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are ahcieved.
Marketing control
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
Marketing audit
The net return from a marketing investment divided by the costs of the marketing investment
Return on Marketing investment