Term
| What are the four tasks of Corporate Strategy for marketing ? |
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Definition
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Term
| What is a Market Orientation ? |
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Definition
| An approach to business that centres its activities on satisfying the needs and wants of its customers. It uses target marketing |
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Term
| What are the three levels of a strategic management planning ? |
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Definition
1st : Marketing planning
2nd : Implement marketing plan
3rd : Control marketing plan by monitoring, measuring and evaluating the progress |
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Term
| Which questions a corporate strategy answers ? |
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Definition
| What business, objective, resources, competitive advantage, establish synergies within the firm ? |
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Term
| What are the three data needed when defining objectives ? |
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Definition
| Unit Sales, Market Share, Profit |
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Term
| What are the 4 traditional objectives for a company ? |
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Definition
| growth, market share, social responsibility, new product development |
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Term
| What is Cannibalization ? |
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Definition
| The declining demand of a current product in response to the launch of a new and similar product by the same firm |
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Term
| Which tools is used to determine strategic choices in order to achieve a growth objective ? |
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Definition
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Term
| How is an Ansoff Matrix presented ? |
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Definition
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Term
| Which information are related to a BCG Matrix ? |
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Definition
Company COMPETITIVENESS : The Relative Market Share of a firm
Market ATTRACTIVENESS : The Market Growth Rate |
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Term
| What are the cutoff for the growth rate and market share ? |
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Definition
Growth rate : the weighted average of the growth rate of each strategic business unit
Market share : relative Market share of 1 |
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Term
| What question does a BCG matrix answer ? |
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Definition
| How do we allocate resources ? |
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Term
| What is Product Orientation ? |
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Definition
| Ffocus on improving the range of products, considers everyone as similar and uses mass-marketing |
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Term
| What are the four main components of a firm's marketing program and when are they designed? |
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Definition
Marketing plan (SBU)
Marketing Strategy
Target Market + Marketing Mix (day-to-day) |
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Term
| what are the three dimension and the most common used when designing SBU ? |
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Definition
| technical compatibility (the most common), similarity in consumer needs, similarity in the personal characteristics |
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Term
| What are the three stage in managing information ? |
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Definition
| Information generation, information dissemination, responsiveness to the information |
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Term
| What is the value proposition ? |
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Definition
The unique value a business offers to its customers. It's why your customers will want to do business with you.
Value Proposition = Services + Products + Relationship |
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Term
| What is the purpose of a Market Opportunity analysis ? |
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Definition
| To assess market and industry attractiveness |
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Term
| Which tools does a Market Opportunity analysis use ? |
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Definition
| Environmental analysis(PEST) and Industry Analysis (PORTER) |
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Term
| What are the 4 different product life cycles ? |
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Definition
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