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28 Cards in this Set
- Front
- Back
Strategic Planning |
The process of developing and maintaining a strategic fit between the organizations goals and capabilities and its changing marketing opportunities. |
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Mission Statement |
A statement of the organizations propose - what it wants to accomplish in the larger environment. |
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Portfolio Analysis |
The process by which management evaluates the products and businesses that make up a company. |
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Growth-share matrix |
A portfolio - planning method that evaluates a company's SBUs in terms of market growth rate and relative market share. |
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Market Penetration |
Company growth by increasing sales of current products to current market segments without changing the market. |
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Market Development |
Company growth by identifying and developing new market segments for current company products. |
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Product Development |
Company growth by offering modified or new products to current market segments. |
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Diversification |
Company growth through starting up or acquiring businesses outside the company's current products or markets. |
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Value Chain |
Internal departments that carry out value - creating activities to design, produce, market, deliver, and support a firm's products. |
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Value Delivery Network |
A network composed of the company, suppliers, distributors, and, ultimately, customers who partner with each other to improve the performance of the entire system in delivering customer value. |
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Marketing Strategy |
The marketing logic by which the company hopes to create customer value and achieve profitable customer relationships. Very similar to customer relationship management. |
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Market Segmentation |
Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing or mixes. |
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Market Segment |
A group of consumers who respond in a similar way to a given set of marketing efforts. |
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Market Targeting |
Evaluating each market segment's attractiveness and selecting one or more segments to sell to. |
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Positioning |
Arranging for a product to occupy a distinctive and desirable place relative to competing products in the minds of target consumers. |
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Differentiation |
Actually differentiating the market offering to create superior customer value. |
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Marketing Mix |
The set of tactical marketing tools - product, price, and promotion - that the firm blends to produce the response it wants in the target market. |
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SWOT analysis |
An overall evaluation of the company's strengths, weaknesses, opportunities, and threats. |
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Marketing Implementation |
Turning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives. |
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Marketing Control |
Measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved . |
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Marketing Return On Investment (ROI) |
The net return from a marketing investment divided by the costs of the marketing investment. |
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Neuromarketing |
Using technologies such as functional magnetic resonance imaging or eye tracking to measure consumers physiological reactions to products and marketing. |
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Mission |
States fundamental purpose of company; its core ideology. |
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Five Competitive Forces affecting industrial profitability and attractiveness |
1. Rivalry among current competitors 2. Number of potential entrants into the industry 3. Bargaining power of suppliers 4. Bargaining power of buyers 5. Potential presented by substitute products |
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Cost leadership strategy |
When you seek to become the lowest - cost producer in the industry. |
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Differentiation Strategy |
When you create a unique differentiation based on some factor valued by target market |
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Focus Strategy |
When you narrow the competitive scope to achieve a competitive advantage in your chosen segments. |
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Product/Market expansion grid |
A portfolio planning tool for identifying company growth through market penetration, Market development, product development, and diversification. |