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| an advantage over the competition that is not easily copied and thus can be maintained over a long period of time. |
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| Identifies a firms target market, a related marketing mix, and the bases on which the firm plans to build sustainable competitive. |
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| focuses on retaining loyal customers and excellent customer service. |
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| achieved through efficient operations and excellent supply chain management |
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| Having products with high perceived value and effective branding and positioning |
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| Having a good physical location and Internet presence |
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| A written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives. |
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| a broad description of a firm's objectives and the scope of activities it plans to undertake. |
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| situational analysis using the internal environment Strengths and Weaknesses and the external environment Opportunity and Threats. |
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| dividing the market place into distinct groups to utilize resources. |
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| evaluating each segments attractiveness and value to decide which to pursue |
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| Defining the marketing mix to decide how a company wants to be positioned within a company. |
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