Term
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Definition
| the managerial process of creating and mantaining a fit between the organization's objectives and resources and the evolving market opportunities. Goal: long run profitability and growth. |
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Term
| Strategic Business Units (SBUs) |
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Definition
Characteristics of An SBU has…
uA distinct mission and specific target market
uControl over its resources
uIts own competitors
uA single business or a collection of related businesses
uPlans independent of other SBUs |
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Term
| Strategic business unit (SBU) definition |
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Definition
| a subgroup of a single business or collection of related businesses within the larger organization. |
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Term
| Ansoff's Opportunity Matrix - Market Penetration |
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Definition
| Increase market share among existing customers |
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Term
| Ansoff's Opportunity Matrix - Market Development |
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Definition
| Attract new customers to existing products |
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Term
| Ansoff's Opportunity Matrix - Product Development |
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Definition
| Create new products for present markets |
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Term
| Ansoff's Opportunity Matrix - Diversification |
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Definition
| Introduce new products into new markets |
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Term
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Definition
| a tool for allocating resources among products or strategic business units on the basis of relative market share and market growth rate. |
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Term
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Definition
| in the portfolio matrix, a business unit that is a fast-growing market leader. (ex. iPad is one of Apple's stars) |
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Term
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Definition
| in the portfolio matrix, a business unit that generates more cash than it needs to maintain its market share. (ex. personal computers and laptops are categorized as cash cows.) |
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Term
| problem child (or question mark) |
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Definition
| in the portfolio matrix, a business unit that shows rapid growth but poor profit margins. |
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Term
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Definition
| in the portfolio matrix, a business unit that has low growth potential and a small market share. |
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Term
| Components of a Marketing Plan |
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Definition
Planning
Marketing Planning
Marketing Plan |
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Term
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Definition
| the process of anticipating future events and determing strategies to achieve organiational objectives in the future. |
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Term
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Definition
| designing activities relating to marketing objectives and the changing marketing environment. |
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Term
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Definition
| a written document that acts as a guidebook of marketing activities for the marketing manager. |
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Term
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Definition
| a statement of the firm's business based on a careful analysis of benefits sought by present and potential customers and an analysis of existing and anticipated environmental conditions. |
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Term
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Definition
| defining a business in terms of goods and services rather than in terms of the beneits customers seek. |
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Term
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Definition
| identifying internal strengths (S) and weaknesses (W) and also examining external opportunites (O) and threats (T) |
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Term
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Definition
| collection and interpretation of information about forces, events, and relationships in the external environment that may affect the future of the organization or the implementation of the marketing plan. |
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Term
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Definition
| a set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition. |
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Term
| cost competitive advantage |
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Definition
| being the low-cost competitor in an industry while maintaining satisfactory profit margins. |
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Term
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Definition
| curves that show costs declining at a predictable rate as experience with a product increases. |
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Term
| product/service differentiation competitive advantage |
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Definition
| the provision of something that is unique and valuable to buyers beyond simply offering a lower price than that of the competition. |
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Term
| niche competitive advantage |
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Definition
| the advantage achieved when a firm seeks to target and effectively serve a small segment of the market. |
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Term
| sustainable competitive advantage |
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Definition
| an advantage that cannot be opied by the competitive |
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Term
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Definition
| a statement of what is to be accomplished through marketing activities |
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Term
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Definition
| the activities of selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets. |
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Term
| market opportunity anaklysis (MOA) |
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Definition
| the description and estimation of the size and sales potential of market segents that are of interest to the firm and the assessment of key competitors in these market segments. |
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Term
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Definition
| a unique blend of product, place (distribution), promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market. |
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Term
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Definition
| the process that turns a marketing plan into action assignments and exnsures that those assign are executed. |
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Term
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Definition
| gauging the extent to which the stat ej |
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Term
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Definition
| a thorough, systematic, period evalutation of th objectives, strategies, structure, and performance of the marketing organization. |
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