Term
|
Definition
| Ratio of benefits to costs |
|
|
Term
|
Definition
| Creating, Communication, Delivering |
|
|
Term
|
Definition
| Place, Promotion, Price, Product |
|
|
Term
|
Definition
| Focuses on keeping and improving relationships with current customers |
|
|
Term
|
Definition
| Product, Sales, Market, Societal |
|
|
Term
|
Definition
| What can we make or do best? |
|
|
Term
|
Definition
| How can we sell more aggressively? |
|
|
Term
|
Definition
| What do customers want and need? |
|
|
Term
|
Definition
| What do customers want and need, and how can we benefit society? |
|
|
Term
|
Definition
| Business Mission Statement, Objectives, SWOT Analysis, Marketing Strategy, Implementation, Evaluation, Control |
|
|
Term
|
Definition
| Target Market Strategy, Marketing Mix |
|
|
Term
| Business Mission Statement |
|
Definition
|
|
Term
|
Definition
| Realistic, Measurable, Time-Specific, Consistent |
|
|
Term
|
Definition
| Strengths, Weaknesses, Opportunities, Threats |
|
|
Term
|
Definition
| The set of unique features of a company and its products that are percieved by the target market as significant and superior to the competition |
|
|
Term
| Types of Competitive Advantage |
|
Definition
| Cost, Differentiation, Niche |
|
|
Term
| Cost Competitive Advantage |
|
Definition
| Being the low-cost competitor in an industry while maintaining satisfactory profit margins |
|
|
Term
|
Definition
| 80% of your profits should come from 20% of your customers |
|
|
Term
| Differentiation Competitive Advantage |
|
Definition
| The provision of something that is unique and valuable to buyers beyond simply offering a lower price than the competition's |
|
|
Term
| Niche Competitive Advantage |
|
Definition
| The advantage achieved when a firm seeks to target and effectively serve a small segment of the market |
|
|
Term
|
Definition
| Increase market share among existing customers |
|
|
Term
|
Definition
| Attract new customers to existing products |
|
|
Term
|
Definition
| Create new products for present markets |
|
|
Term
|
Definition
| Introduce new products into new markets |
|
|
