Term
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Definition
| In the portfolio matrix, a business unit that usually generates more cash than it needs to maintain its market share. p. 32 |
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Term
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Definition
| The set of unique features of a company and its products that are perceived by the target market as significant and superior to the competition 2; One or more unique aspects of an organization that cause target consumers to patronize that company rather than competitors. p. 27, 406 |
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Term
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Definition
| Provides the mechanisms for evaluating marketing results in light of the plan’s goals and for correcting actions that do not help the organization reach those goals within budget guidelines. p. 37 |
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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. p. 27 |
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Term
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Definition
| A strategy of increasing sales by introducing new products into new markets. p. 31 |
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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. p. 32 |
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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. p. 25 |
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Term
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Definition
| Gauging the extent to which the marketing objectives have been achieved during the specified time period. p. 37 |
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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. p. 27 |
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Term
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Definition
| Product, place, promotion, and price, which together make up the marketing mix. p. 35 |
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Term
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Definition
| The process that turns marketing plans into action assignments and that ensures these assignments are executed in a way that accomplishes the plan’s objectives. p. 37 |
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Term
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Definition
| A marketing strategy that entails attracting new customers to existing products. p. 30 |
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Term
| market opportunity analysis (MOA) |
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Definition
| The description and estimation of the size and sales potential of market segments that are of interest to the company and the assessment of key competitors in these market segments. p. 34 |
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Term
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Definition
| A marketing strategy that tries to increase market share among existing customers. p. 30 |
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Term
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Definition
| A thorough, systematic, periodic evaluation of the goals, strategies, structure, and performance of the marketing organization. p. 37 |
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Term
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Definition
| A unique blend of product, distribution, promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market. p. 37 |
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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 benefits that customers seek. p. 24 |
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Term
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Definition
| A statement of what is to be accomplished through marketing activities. p. 26 |
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Term
| marketing performance metrics |
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Definition
| Marketing performance metrics are measures that tell us how well a business is performing in the market. p. 37 |
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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. p. 22 |
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Term
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Definition
| Designing activities relating to marketing objectives and the changing marketing environment. p. 2 |
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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. p. 34 |
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Term
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Definition
| A statement of the company’s business based on a careful analysis of benefits sought by present and potential customers and analysis of existing and anticipated environmental conditions. p. 24 |
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Term
| niche competitive advantage |
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Definition
| The advantage achieved when a company seeks to target and serve effectively a small segment of the market. p. 29 |
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Term
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Definition
| The process of anticipating future events and determining strategies to achieve organizational objectives in the future. p. 22 |
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Term
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Definition
| A tool for allocating resources among products or SBUs on the basis of relative market share and market growth rate. p. 32 |
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Term
| problem child (question mark) |
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Definition
| In the portfolio matrix, a business unit that shows rapid growth but poor profit margins. p. 32 |
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Term
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Definition
| A marketing strategy that entails the creation of marketable new products; the process of converting applications for new technologies into marketable products. p. 31, 277 |
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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 the competition. p. 28 |
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Term
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Definition
| In the portfolio matrix, a business unit that is a fast-growing market leader. p. 32 |
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Term
| strategic business unit (SBU) |
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Definition
| A subgroup of a single business or collection of related businesses within the larger organization. p. 24 |
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Term
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Definition
| The managerial process of creating and maintaining a fit between the organization’s objectives and resources and evolving market opportunities. p. 22 |
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Term
| sustainable competitive advantage |
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Definition
| An advantage that cannot be copied by the competition. p. 29 |
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Term
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Definition
| Identifying internal strengths (S) and weaknesses (W) and also examining external opportunities (O) and threats (T). p. 25 |
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