Term
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Definition
| the managerial process of creating and maintaining a fit between the organization’s objectives and resources and the evolving market opportunities |
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Term
| strategic business unit (SBU) |
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Definition
| a subgroup of a single business or collection of related businesses within the larger organization |
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Term
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Definition
| a marketing strategy that tries to increase market share among existing customers |
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Term
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Definition
| a marketing strategy that entails attracting new custom-ers to existing products ( |
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Term
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Definition
| a marketing strategy that entails the creation of new products for present markets |
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Term
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Definition
| a strategy of increasing sales by introducing new products into new markets |
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Term
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Definition
| a tool for allocating resources among products or strategic business units on the basis of relative mar-ket share and market growth rate |
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Term
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Definition
| in the portfolio matrix, a business unit that is a fast-growing market leader |
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Term
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Definition
| in the portfolio matrix, a busi-ness unit that generates more cash than it needs to maintain its market share |
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Term
| problem child (question mark) |
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Definition
| in the portfolio matrix, a business unit that shows rapid growth but poor profit margins |
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Term
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Definition
| in the portfolio matrix, a business unit that has low growth potential and a small market share |
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Term
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Definition
| the process of anticipating future events and determining strategies to achieve organizational objectives in the future |
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Term
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Definition
| designing activi-ties relating to marketing objectives and the changing marketing environment |
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Term
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Definition
| a written document that acts as a guidebook of marketing activities for the marketing manager |
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Term
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Definition
| a statement of the firm’s business based on a careful analysis of benefits sought by present and potential customers and an analysis of existing and anticipated environmental conditions |
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Term
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Definition
| defining a business in terms of goods and services rather than in terms of the benefits customers seek |
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Term
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Definition
| identifying internal strengths (S) and weaknesses (W) and also examining external opportunities (O) and threats (T) |
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Term
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Definition
| collection and interpretation of information about forces, events, and relationships in the external environment that may affect the future of the organization or the implemen-tation of the marketing plan |
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Term
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Definition
| a set of unique features of a company and its prod-ucts that are perceived by the target market as significant and superior to those of the competition ( |
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Term
| cost competitive advantage |
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Definition
| being the low-cost competitor in an industry while maintaining satisfactory profit mar-gins |
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Term
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Definition
| curves that show costs declining at a predictable rate as experience with a product increases |
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Term
| product/service differentiation competitive advantage |
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Definition
| the provision of something that is unique and valuable to buyers beyond simply offering a lower price than that of the competition |
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Term
| niche competitive advantage |
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Definition
| the advantage achieved when a firm seeks to target and effectively serve a small seg-ment of the market |
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Term
| sustainable competitive advantage |
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Definition
| an advantage that cannot be copied by the competition |
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Term
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Definition
| a statement of what is to be accomplished through marketing activities |
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Term
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Definition
| the activities of selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets |
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Term
| market opportunity analysis (MOA) |
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Definition
| the description and estimation of the size and sales potential of market segments that are of interest to the firm and the assess-ment of key competitors in these market segments |
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Term
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Definition
| a unique blend of product, place (distribution), promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market |
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Term
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Definition
| the process that turns a marketing plan into action assignments and ensures that these assignments are executed in a way that accomplishes the plan’s objectives |
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Term
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Definition
| gauging the extent to which the marketing objectives have been achieved during the specified time period |
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Term
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Definition
| provides the mechanisms for evaluating marketing results in light of the plan’s objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines |
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Term
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Definition
| a thorough, system-atic, periodic evaluation of the objectives, strategies, structure, and performance of the marketing organization |
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