Term
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Definition
| the process of developing and maintaining a strategic fit between the organizations goals, capabilities, and its changing market opportunities |
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Term
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Definition
-company mission
-goals and objectives
-business portfolio
-marketing other functional strategies |
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Term
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Definition
| the organizations purpose, what it wants to accomplish in the larger enviroment |
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Term
| business and marketing objectives |
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Definition
business: build profitable customer relationships, invest in research, improve profits
marketing: increase market share, create local partnerships, increase promotion |
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Term
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Definition
| the collection of businesses and products that make up the company |
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Term
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Definition
| a major activity in strategic planning whereby management evaluates the products and businesses that make up the company. |
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Term
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Definition
| high-growth, high-share businesses or products requiring heavy investment to finance rapid growth. they will eventually turn into cash cows |
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Term
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Definition
| low growth- high share businesses or products that are established and successful SBUs requiring less investment to maintain market share |
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Term
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Definition
| low share business units in high-growth markets requiring a lot of cash to hold their share |
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Term
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Definition
| low-growth, low-share businesses and products that may generate enough cash to maintain themselves but do not promise to be larger sources of cash |
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Term
| product/market expansion grid |
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Definition
| a tool for identifying company growth opportunities |
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Term
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Definition
| a growth strategy increasing sales to current market segments without changing the product |
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Term
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Definition
| a growth strategy that identifies and develops new market segments for current prodcuts |
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Term
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Definition
| a growth strategy that offers new or motified products to existing market segments |
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Term
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Definition
| a growth strategy through starting up or acquiring businesses outside the company current products and markets |
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Term
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Definition
| a series of departments that carry out value-creating activities to design, produce, market, deliver, and support a firms products |
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Term
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Definition
| made up of the company, suppliers, distributors, and ultimately customers who partner with each other to improve performance of the entire system |
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Term
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Definition
| the division of a market into distinct groups of buyers who have different needs, characteristics, or behavior and who might require differentiated products |
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Term
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Definition
| a group of consumers who respond in a similar way to a given set of marketing efforts |
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Term
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Definition
geographic
demographic
psychographic
behavioral |
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Term
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Definition
| the process of evaluating each market segments attractiveness and selecting one or more segments to enter |
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Term
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Definition
| the arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of the target consumer |
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Term
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Definition
Strengths
Weaknesses
Opportunities
Threats |
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Term
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Definition
| the process that turns marketing plans into marketing actions to accomplish strategic marketing objectives |
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Term
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Definition
| addresses the what and why of marketing activies |
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Term
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Definition
| addresses the who, when , where, and how |
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Term
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Definition
| the most common form of marketing organization with different marketing functions headed by a functional specialist |
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Term
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Definition
| usefull for companies that sell across the country or internationally. managers are responsible for developing strategies and plans for a specific region |
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Term
| Product management organization |
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Definition
| usefull for companies with different products and brands. managers are responsible for developing strategies and plans for a specific product or brand |
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Term
| customer management organization |
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Definition
| involves a customer focus and not a product focus for managing customer profitability and customer equity |
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Term
| market or customer management organization |
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Definition
| useful for companies with one product line sold to many different markets and customers. managers are responsible for developing strategies and plans for their specific markets or customers |
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Term
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Definition
evaluation
operating control
Strategic control
Corrective action |
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Term
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Definition
| Management first sets specific marketing goals. it then measures its performance in the marketplace and evaluates the causes of any differences between expected and actual performance |
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Term
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Definition
| checking ongoing performance against the annual plan and taking corrective action when necessary. Its purpose is to ensure that the company achieves the sales, profits, and other goals set out in its anuual plan. it also involves determining the profitability of different products, territories, markets, and channels |
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Term
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Definition
| looking at whether the companies basic strategies are well matches to its opportunites. Marketing strategies and programs can quickly become outdated, and each company should periodically reassess its overall approach to the marketplace. |
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Term
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Definition
| close the gaps between goals and performance. this may require changing the action programs or even changing goals |
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Term
| return on marketing investment |
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Definition
| is net return from a marketing investment divided by the cost of the marketing investment. provides a measure of the profits generated by investments in marketing activities. |
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