Details Title: Chapter 2 Description: Partnering to Build Customer Relationships Total Flash Cards: 26 Created: 01/26/2009 07:54:17		New Users: To study from this flashcard set, or to create your own your own study flash cards, REGISTER HERE. Existing Users: CLICK HERE. Additional Marketing Flashcards
Cards in this set: Term Strategic Planning Definition The process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities. Term Mission Statement Definition A statement of the organizations's purpose-what it wants to accomplish in the larger environment. Term Business Portfolio Definition The collection of businesses and products that make up the company. Term Portfolio Anaylsis Definition The process by which management evaluates the products and businesses making up the company. Term Strategic Business Unit Definition has a separate mission and objectives and that can be planned independently from other company businesses. Term Growth Share Matrix Definition A portfolio-planning method that evaluates a company's strategic business units in terms of their market gorwth rate and relative market share. Can be classified as stars, cash cows, question marks and dogs. Term Product/Market Expansion Grid Definition A portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification. Term Marketing Penetration Definition A strategy for company growth by increasing sales of current products to current market segments without changing the product. Term Market Development Definition A strategy for company growth by identifying and developing new market segments for current company products. Term Product Development Definition A strategy for company growth by offering modified or new products to current market segments. Term Diversification Definition A strategy for company growth through starting up or acquiring businesses outside the company's current products and markets. Term Downsizing Definition Reducing the business portfolio by eliminating products of business units that are not profitable or that no longer fit the company's overall strategy. Term Value Chain Definition The series of departments that carry out value-creating activities to design, produce, market, deliver, and support a firm's product. Term Value Delivery Network Definition The network made up of the comapny, supplier, distributors, and ultimately customers who "partner" with each other to improve the performance of the entire system Term Marketing Strategy Definition The marketing logic by which the business unit hopes to create customer value and achieve profitable customer relationships. Term Market Segmentation Definition Dividing a market into distinct groups of buyers wo have distinct needs, characteristics, or behavior and who might require separate products or marketing programs. Term Market Segment Definition A group of consumers who respond in a similiar way to a given set of marketing efforts. Term Market Targeting Definition The process of evaluating each market segment's attractiveness and selecting one or more segments to enter. Term Positioning Definition Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. Term Differentiation Definition Actually differetiating the market offering to create superior customer value Term Marketing Mix Definition The set of controllable tatical marketing tools-product, price, place and promotion- that the firm blends to produce the response it wants in the target market. Term SWOT Analysis Definition An overall evaluation of the company's strengths, weaknesses, opportunities, and threats. Term Marketing Implementation Definition The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives. Term Marketing Control Definition The process of measuring and evaluating the results of marketing strategies and palns and taking corrective action to ensure that objectives are achieved. Term Marketing Audit Definition A comprehensive, systematic, independent, and periodic examination of a company's environment, objectives, strategies, and activities to determine problem areas and opportunities and to recommend a plan of action to improve the company's marketing performance. Term Return on Marketing Investment (Marketing ROI) Definition The net return from a marketing investment divided by the costs of the marketing investment.