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Definition
| A ongoing process of making decisions that guide the firm both in the short term and for the long haul. |
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Definition
| A plan that includes the decisions that guide the entire organization. |
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Definition
| A document that describes the marketing environment, outlines the marketing objectives and strategy, and identifies who will be responsible for carrying out each part of the marketing strategy. |
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Definition
| A managerial decision process that matches an ogranization's resources and capabilities to its market opportunities for long-term growth and survival. |
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Definition
| A decision process that concentrates on developing detailed plans for strategies and tactics for the short term that support an organization's long-term strategic plan. |
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Definition
| An analysis of an organization's strengths and weaknesses and the opportunities and threats in its external environment. |
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Definition
| The group of different products or brands owned by an organization and characterized by different income-generating and growth capabilities. |
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Definition
| A management tool for evaluating a firm's business mix and assessing the potential of an organization's strategic business units. |
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| BCG growth-market share mix |
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Definition
| A portfolio analysis model developed be the Boston Consulting Group that assesses the potential of successful products to generate cash that a firm can then use to invest in new products. |
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Definition
| SBUs with products that have a dominant market share in high-growth markets. |
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Definition
| SBUs with a dominant market share in a low-growth-potential market. |
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Definition
| SBUs with market shares in fast-growth markets. |
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Term
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Definition
| SBUs with a small share of a slow-growth market. They are businesses that offer specialized products in limited makrets that are not likely to grow quickly. |
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Term
| Market penetration strategies |
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Definition
| Growth strategies designed to increasse sales of existing products to current customers, nonusers, and users of competitives brands in served markets. |
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Term
| Market development strategies |
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Definition
| Growth strategies that introduce existing products to new markets. |
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Term
| Product development strategies |
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Definition
| Growth strategies that focus on selling new products in served markets. |
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Term
| Diversification strategies |
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Definition
| Growth strategies that emphasize both new products and new markets. |
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Term
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Definition
| A process that entails measuring actual performance, comparing this performance to the established marketing objectives, and then making adjustments to the strategies or onjectives on the basis of this analysis. |
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Term
| Return on marketing investment (ROMI) |
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Definition
| Quantifying just how an investment in marketing has an impact on the firm's success, financially and otherwise. |
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Term
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Definition
| Individial support plans included in a marketing plan that provide the guidance for implementation and control of the various marketing strategies withing the plan. Action plans are sometimes referred to as "marketing programs." |
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Term
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Definition
| Plans that focus on the day-to-day execution of the marketing plan. Operational plans include detailed directions for the specific activities to be carried out, who will be responsibile for them, and time lines for accomplishing the tasks. |
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Term
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Definition
| The set of values, norms, and beliefs that influence the behavior of everyone int he organization. |
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