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20 Cards in this Set
- Front
- Back
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Production Orientation
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-focuses on the internal capabilities of the firm rather than on the desires and needs of the marketplace
Ex: the furniture industry has always been production-oriented for its disregard of customers |
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Sales Orientation
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-the idea that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits.
-lacks the needs and wants of the marketplace Ex: many dot com businesses from the 90's are no longer around because they focused on the technology rather than the customer |
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Market Orientation
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-assumes that a sale does not depend on an aggressive sales force but rather on a customers decision to purchase product
Ex: Western-Union failed to join fax technology |
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Market Penetration
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-Tries to increase market share among existing customers
Ex:Starbucks sells more coffee to customers with reloadable starbucks cards and duetto visa cards |
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Market Development
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-Attracts new customers to existing products
Ex:Starbucks opens stores in Brazil and Chile |
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Product Development
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-New products for present markets
Ex:Starbucks develops ready-to-drink coffee beverages Double Shot and bottled Frappuccino |
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Diversification
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-Increasing sales by introducing new products into new markets
Ex:Starbucks launches Hear Music and buys Ethos Water |
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Star
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-In the portfolio matrix, a business unit that is a fast growing market leader
Ex:tablet PC's, handheld computers |
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Cash Cow
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-In the portfolio matrix, a business unit that generates more cash than it needs to maintain its market share
Ex:Laptops and personal computers |
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Problem Child / Question Mark
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-In the portfolio matrix, a business unit that shows rapid growth but poor profit margins
Ex:Palm pilots |
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Dog
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-In the portfolio matrix, a business that has low growth potential and a small market share
Ex:Mainframe computer |
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Implementation
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-"Doing what you said you were going to do"
Ex: timelines, budgets, detailed job assignments |
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Sustainability
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-the idea that socially responsible companies will out perform their peers by focusing on the worlds social problems and viewing them as opportunities to build profits and help the world at the same time.
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Environmental Management
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-Why a company implements strategies that attempt to shape the external environment within which it operates
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Generation Y
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-People born between 1979 and 1994
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Tweens
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-Ages 8-14, about 29 million strong
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Generation X
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-People born between 1965 and 1978, about 40 million strong
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Baby Boomers
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-Born between 1946 and 1964, 77 million strong
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Purchasing Power
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-a comparison of income to the relative cost of a set standard of goods and services in different geographic areas
-usually referred to as the cost of living |
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Inflation
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-a measure of the decrease in the value of money
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