Term
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Definition
| an ongoing process of making decisions that guides the firm both in the short term and for the long term |
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Term
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Definition
| a plan that includes the decisions that guide the entire organization |
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Term
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Definition
| a document that describes the marketing environment, outlines the marketing objectives and strategy, and identifies who will be responsible for carrying out each part of the marketing strategy |
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Definition
| rules of conduct for an organization |
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Term
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Definition
| written standards of behavior to which everyone in the organization must subscribe |
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Definition
| a managerial process that matches an organization's resources and capabilities to its market opportunities for long-term growth and survival |
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Term
| strategic business units (SBUs) |
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Definition
| individual units within the firm that operate like separate businesses with each having its own mission, business objectives, resources, managers, and competitors |
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Term
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Definition
| a decision process that concentrates on developing detailed plans for strategies and tactics for the short term, supporting an organization's long-term strategic plan |
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Term
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Definition
| a decision process that focuses on developing detailed plans for day-to-day activities that carry out an organization's functional plans |
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Term
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Definition
| a formal statement in an organizations strategic that describes the overall purpose of the organization and what it intends to achieve in terms of its customers, products, and resources |
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Term
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Definition
| a formal statement in an organization's strategic plan that describes the overall purpose of the organization and what it intends to achieve in terms of its customers, products, and resources |
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Term
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Definition
| an assessment of a firm's internal and external enviroments |
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Term
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Definition
| the controllable elements inside an organization, including its people, its facilities, and how it does things that influence the operations of the organization |
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Term
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Definition
| the uncontrollable elements outside an organization that may affect its performance either positively or negatively |
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Term
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Definition
| an analysis of an organization's strengths and weaknesses and the opportunities and threats in its external environments |
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Term
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Definition
| the group of different products or brands owned by an organization and characterized by different income-generating and growth capabilities |
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Term
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Definition
| a management tool for evaluating a firm's business mix and assessing the potential of an organization's strategic business units |
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Term
| BCG growth-market share matrix |
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Definition
| a portfolio analysis model developed by the Boston Consulting Group that assesses the potential of successful products to generate cash that a firm can then use to invest in new products |
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Term
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Definition
| SBUs with products that have a dominant market share in high-growth markets |
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Term
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Definition
| SBUs with a dominant market share in low-growth-potential market |
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Term
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Definition
| SBUs with low market shares in fast-growth markets |
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Term
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Definition
| SBUs with a small share of a slow-growth market. they are businesses that offer specialized products in limited markets that are not likely to grow quickly |
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Term
| market penetration strategies |
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Definition
| growth strategies designed to increase sales of existing products to current customers, nonusers, and users of competitive brands in served markets |
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Term
| market development strategies |
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Definition
| growth strategies that introduce existing products to new markets |
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Term
| product development strategies |
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Definition
| growth strategies that focus on selling new products in existing markets |
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Term
| diversification strategies |
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Definition
| growth strategies that emphasize both new products and new markets |
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Term
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Definition
| a process that entails measuring actual performance, comparing this performance to the established marketing objectives, and then making adjustments to the strategies or objectives on the basis of this analysis |
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Term
| return on marketing investment (romi) |
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Definition
| quantifying just how an investment in marketing has an impact on the firm's success, financially and otherwise |
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Term
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Definition
| individual support plans included in a marketing plan that provide the guidance for implementation and control of the various marketing strategies within the plan; sometimes referred to as marketing programs |
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Term
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Definition
| focus on the day to day execution of the marketing plan; include detailed directions for the specific activities to be carried out, who will be responsible for them, and time lines for accomplishing the tasks |
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Term
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Definition
| the set of values, norms, and beliefs that influence the behavior of everyone in the organization |
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