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| develop & maintain strategy btw. org's goals, capabilities, & changing mrkt opportunities |
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| org's purpose; what it wants to accomplish in larger environment. Prof: should be realistic & specific |
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| co.'s collection of businesses & products |
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| process by which co.'s mgmt. evaluates its products & businesses |
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| portfolio-planning method that evaluates co.'s market growth rate & relative market share |
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| product/ market expansion grid |
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| portfolio planning tool to identify growth opportunities thru:- market penetration - market development - product development - diversification [see grid in book] |
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| increase sales to current market w/o changing product, e.g. adding more STBX stores |
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| identifying & developing new market segments for current product |
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| offering modified or new products to current market segment |
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| starting up or acquiring businesses outside co.'s current products & markets |
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| series of internal septs. that carry out value-creating activities to design, produce, market, deliver & support a firm's products |
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| co., suppliers, distributors & ultimately its customers |
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logic by which co. hopes to create value & achieve profitable customer relationships
--which customers (segmentation & targeting)
-- how to serve customers (differentiation & positioning) |
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| dividing market into distinct groups who have different needs, characteristics, behaviors & who may require separate products or marketing programs |
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| group of consumers who respond similarly to given set of marketing efforts |
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| evaluating each market's attractiveness & selecting one or more segments to enter |
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| in minds of consumers, arranging for a product to occupy a clear, distinctive & desirable place relative to competing brands Eg, Neutrogena "#1 Dermatologist Recommended" |
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| actually differentiating market offering to create superior customer value |
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| product (solution,) price, place (convenience,) & promotion blended to produce response in target market |
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| strengths, weaknesses, opportunities & threats |
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| turning strategies & plans into actions to accomplish strategic objectives |
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| measuring & evaluating results of strategies & plans then taking corrective action to ensure objectives are achieved ?eg? customer survey? |
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| Return On Investment net return / costs; measures profits generated |
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| prof: continual, dependable revenue-generator |
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| Prof: low share, low growth. Sjould we get rid of it? |
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prof: high growth, high market share
web: but profit might be high enough to attract ruinous competition. http://compensationmaster.com/articles/cash-cow.html |
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| prof: growing market, but not sure what to do with it |
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