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Definition
| The process of establising an organizational mission and formulating goals, corporate strategy, marketing objectives, marketing strategy, and a marketing plan |
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| A plan of action for identifying and analyzing a target market and developing a marketing mix to meet the needs of that market |
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| A writting deocument that specifies the activities to be performed to implement and control an organization's marketing activities |
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| Things a firm does extremely well, which sometimes give it an advantage over its competition |
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Definition
| A combination of circumstances and timing that permits an organization to take action to reach a target market |
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| Temporary periods of optimal fit between the key requirements of a market and a firm's capabilities |
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| The result of a company's matching a core competency to opportunities in the marketplace |
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| A tool that marketers use to assess an organizations's strengths, weaknesses, oppportunities, and threats |
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| A long-term view of what the organization wants to become |
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| A statement of what is to be accomplished through marketing activities |
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| A strategy that determines the means for using resources in the various functional areas to reach the organzations's goals |
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| A division, product line, or other profit center within a parent company |
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| A group of individuals and/or organizations that have needs for products in a product class and have the abilitiy, willingness, and authority to purchase those products |
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Definition
| The percentage of a market that acutally buys a specific product from a particular company |
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| market growth/market-share matrix |
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Definition
| A strategic planning tol based on the philoshopy that a product's market growth rate and market share are important in determining marketing strategy |
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| sustainable competitive advantage |
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Definition
| An advantage that the competition cannot copy |
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Definition
| The process of assessing opportunites and resources, determining objectives, defining strategies, and estblishing guidelines for implementation and control of the marketing program |
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Definition
| The process of putting marketing strategeies into action |
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| The strategy the company decides on during the planning phase |
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| The strategy that actually takes place |
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| Individuals who patronize a business |
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| Coordinating internal exchanges between the firm and its employees to achieve successful external exchanges between the firm and its customers |
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| A philosophy that uniform commitment to quality in all areas of the organization will promote a culture that meets customers' perceptions of quality |
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Definition
| Comparing the quality of the firm's goods, servies, or porecesses with that of the best-performing competitors |
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Definition
| Giving customer-contact employees authority and responsibility to make marketing decisions on their own |
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Definition
| A structure in which top mangagement delegates little authority to the levels below it |
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| decentralized organization |
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Definition
| A structure in which decision-making authority is delegated as far down the chain of command as possible |
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| marketing control process |
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Definition
| Establising performance standards and trying to match actual performance to those standards |
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Definition
| An expected level of performance |
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