Term
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Definition
| The process of developing and maintaining a strategic fit between the organizations goals and capabilities and it's changing market opportunities. |
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Term
| Strategic Planning Process |
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Definition
1) defining a clear cpompany mission.
2) setting supporting company objectives and goals.
3) designing a sound business portfolio
4) planning and coordinating marketing and other functional strategies. |
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Term
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Definition
| The organizations purpose, what it wants to accomplish in the larger environment. |
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Term
| Marketing-Oriented Mission Statement |
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Definition
| Defines the business in terms of satisfying basic customer needs. |
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Term
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Definition
| The collection of businesses and products that make up the company. |
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Term
| Boston Consulting Group Matrix |
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Definition
| A portfolio planning method that evaluates a company's strategic business units in terms of their market growth rate and relative share. |
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Term
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Definition
| High growth and high share businesses |
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Term
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Definition
| Low growth and high share businesses |
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Term
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Definition
| Low-share business units in high growth markets |
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Term
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Definition
| Low growth and low share businesses |
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Term
| Product/Market Expansion Grid |
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Definition
| A tool for identifying company growth opportunities through market penetration, market development, product development, or diversification. |
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Term
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Definition
| A growth strategy increasing sales to current segments without changing the product |
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Term
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Definition
| A growth strategy that identifies and develops new market segments for current products |
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Term
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Definition
| A growth strategy that offers new or modified products to existing market segments |
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Term
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Definition
| A growth strategy through sleuthing up or acquiring businesses outside the company's current products and markets |
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Term
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Definition
| The division of a market into distinct groups of buyers who have distinct needs, characteristics, or behavior; and who might require separate products or marketing mixes, dividing a market into small homogenous groups |
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Term
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Definition
| The process of evaluating each market segment's attractiveness and selecting one or more segments to enter |
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Term
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Definition
| The arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products |
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