Term
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Definition
| the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities 1. define mission 2. set objectives/goals 3. design business |
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Term
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Definition
| a statement of the organization's purpose-what it wants to accomplish in the larger environment |
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Definition
| the collection of businesses and products that make up the company |
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Term
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Definition
| the process by which management evaluates the products and businesses making up the company |
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Term
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Definition
| a portfolio-planning method that evaluates a company's strategic business units in terms of their market growth rate and relative market share. BOSTON CONSULTING GROUP - FIG. 2.2 PG. 40 |
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Definition
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Term
| What are the three developing strategies for growth and downsizing? |
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Definition
1. Market Penetration
2. Market Development
3. Product Development |
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Term
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Definition
| a strategy for company growth by increasing sales of current products to current market segments without changing the product |
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Term
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Definition
| a strategy for company growth by identifying and developing new market segments for current company products |
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Term
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Definition
| a strategy for company growth by offering modified or new products to current market segments |
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Definition
| a strategy for company growth through starting up or acquiring businesses outside the company's current products and markets |
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Term
| Fig. 2.3 the product/market expansion grid (pg. 41) |
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Definition
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Term
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Definition
| reducing the business portfolio by eliminating products or business units that are not profitable or that no longer fit the company's overall strategy |
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Term
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Definition
| the series of departments that carry out value-creating activities to design, produce, market, deliver, and support a firm's products |
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Term
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Definition
| the network made up of the company, suppliers, distributors, and ultimately customers to "partner" with each other to improve the performance of the entire system |
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Term
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Definition
| Quality Service Cleanliness and Value |
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Term
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Definition
| dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require separate products or marketing mixes |
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Term
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Definition
| a group of consumers who respond in a similar way to a given set of marketing efforts |
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Term
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Definition
| the process of evaluating each market segment's attractiveness and selecting one or more segments to enter |
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Term
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Definition
| circular flow on strategy and marketing mix |
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Term
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Definition
| 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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Term
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Definition
| the set of controllable tactical marketing tools-Product, Price, Place, Promotion-that the firm blends to produce the response it wants in the target market |
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Term
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Definition
| Product, Price, Place, Promotion |
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Term
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Definition
| Customer solution, Customer cost, Convenience, Communication |
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Term
| Review contents of Table 2.2 |
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Definition
| contents of a marketing plan |
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Term
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Definition
| the process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives |
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Term
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Definition
| the process of measuring and evaluating the results of marketing strategies and plans, and taking corrective action to ensure that objectives are achieved |
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Term
| Return on Marketing (Marketing ROI) |
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Definition
| the net return from a marketing investment divided by the costs of the marketing investment |
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