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Marketing - Real People
SAU Chapter 2
32
Marketing
Undergraduate 3
08/28/2006

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Term
BCG groth-market share matrix
Definition
A portfolio analysis model developed by the boston consulting group that assesses the potential of successful products to generate cashe that a firm can then use to invest in new products.
Term
Brand Competition
Definition
When firms offering similar goods or services compete on the basis of their brands reputation or perceived benefits.
Term
Business cycle
Definition
The over all patterns of change in the economy- including periods of prosperity, recession, depression and recovery- that affect consumer and business purchasing power.
Term
Business Plan
Definition
A plan that includes the decisions that guide the engire organization
Term
Business Planning
Definition
An ongoing process of making decisions that guide the firm both in sthe short term and for the long haul
Term
Business Portfolio
Definition
The group of diferent products or brands owned by an organization and characterized by different income-generating and growth capabilities
Term
Competitive intelligence
Definition
THe process of gathering and analyzing publicly available information about rivals.
Term
Control
Definition
A process that entails measuring actual performance, comparing the perfomance to the established markteting objectives, and then making adjustmens to the stragtegies or objectives on the basis of this analysis.
Term
Corporate culture
Definition
The set of values, norms, and beliefs that influence the behavior of everyone in the organization.
Term
Demographics
Definition
Statistics that measure obervable aspects of a population, including size age, gender, ethnic, groups, income, education, ocupation, and family structure.
Term
discretionary income
Definition
The prtion of income people have left over after paing for necessities such as housing, utilities, food, and clothing.
Term
diversification strategies
Definition
Growth strategies that emphasize both new products and new markets.
Term
external enviroment
Definition
The uncontrollable elements outside an organization that may affect its performance either postitively or negatively.
Term
functional (tactical) planning
Definition
A decision process that concentrates on developing detailed plans for strategies and tactics for the short tierm that support and organizations long term strategic plan
Term
internal enviroment
Definition
The controllable elements inside and organization, including its people, its facilities, and how it does things that influence the operations of the organiztion.
Term
Market development strategies
Definition
Growth strategies that introduce existing products to new markets.
Term
market penetration strageies
Definition
Growth strategies designed to increase sales of existing products to current customers, non users, and users of cometitive brands in served markets.
Term
Marketing plan
Definition
A document that describes the marketing enviroment, outlines the marketing objectives and strategy, and identigies who will be respnsible for carrying out each part of the marketing strategy
Term
Mission statement
Definition
A formal statement in an organizations strategic plan that describes the overall purpose of the organization and what it intends to achieve in terms of its customers, products , and resources.
Term
monopolistic Competition
Definition
A market structure in which many firms, each having slighty different products, offer unique consumer benefits.
Term
monopoly
Definition
A market situation in which one firm, the only supplier of a particular product, is able to contrtol the price, quality, and supply of that product.
Term
oligopoly
Definition
A market structure in which a relatively small number of sellers each holding a substantial share of the market compete in a market with many buyers.
Term
operational planning
Definition
A decision process that focuses on developing detailed plans for day-to-day activites that carry out an organizations functional plans.
Term
operational Plan
Definition
Plans that focus on the dat to day execution of the marketing plan. Operational plans include detailed directions for the specific activities to be carried out, who will be responsible for them and timelines for accomplishing the tasks.
Term
patent
Definition
Legal documentation granting an individual or firm exclusive rights to produce and sell a particular invention
Term
Perfect competition
Definition
A market structure in which many small sellers all of whom offer similar products are unable to have an impact on the quality price or supply of a product.
Term
portfolio analysis
Definition
A management tool for evaluating a firms business mix and assessing the potential of an organizations strategic business units.
Term
product competition
Definition
When firms offering different prodcuts compete to satisfy the same consumer needs and wants.
Term
product development strategies
Definition
Growth strategies that focus on selling new products in served markets.
Term
strategic business units
Definition
Individual units within the firm that operate like seperate companies, with each having its own mission, business objectives, resources, managers, and competitors.
Term
strategic planning
Definition
A magagerial decision process that matches an organization's resources and capabilities to its market opportuniiteies for long term growth and survival
Term
SWOT analysis
Definition
An analysis of an organizations strengths and weaknesses and the opertunities an threats in its external enviroment.
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