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| The process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities. |
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| A statement of the organizations's purpose-what it wants to accomplish in the larger environment. |
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| The collection of businesses and products that make up the company. |
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| The process by which management evaluates the products and businesses making up the company. |
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| has a separate mission and objectives and that can be planned independently from other company businesses. |
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| 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. |
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| Product/Market Expansion Grid |
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Definition
| A portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification. |
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| A strategy for company growth by increasing sales of current products to current market segments without changing the product. |
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| A strategy for company growth by identifying and developing new market segments for current company products. |
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| A strategy for company growth by offering modified or new products to current market segments. |
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| A strategy for company growth through starting up or acquiring businesses outside the company's current products and markets. |
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| Reducing the business portfolio by eliminating products of business units that are not profitable or that no longer fit the company's overall strategy. |
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| The series of departments that carry out value-creating activities to design, produce, market, deliver, and support a firm's product. |
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| 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 |
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| The marketing logic by which the business unit hopes to create customer value and achieve profitable customer relationships. |
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| Dividing a market into distinct groups of buyers wo have distinct needs, characteristics, or behavior and who might require separate products or marketing programs. |
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| A group of consumers who respond in a similiar way to a given set of marketing efforts. |
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| The process of evaluating each market segment's attractiveness and selecting one or more segments to enter. |
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| Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. |
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| Actually differetiating the market offering to create superior customer value |
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| 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. |
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Definition
| An overall evaluation of the company's strengths, weaknesses, opportunities, and threats. |
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Definition
| The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives. |
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| The process of measuring and evaluating the results of marketing strategies and palns and taking corrective action to ensure that objectives are achieved. |
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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. |
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| Return on Marketing Investment (Marketing ROI) |
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Definition
| The net return from a marketing investment divided by the costs of the marketing investment. |
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