Term
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Definition
| Ongoing process of making decisions that guides the firm both in the short term and for the long term |
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Definition
| The basic values that guide a company |
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Term
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Definition
| Written standard of behavior so everyone is on the same page |
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Term
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Definition
| managerial decision process that matches firm's resources and capabilities to its markets opportunities for long-term growth and survival (3-5 years put in by top management. WHy in business?) |
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Term
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Definition
Put in affect by VPs. What do we need to achieve goals
3-5 years
detailed annual plan |
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Term
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Definition
focus on day to day executon of functional plans (front line managers)
Includes 10K or 10Q |
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Term
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Definition
| Strategic Business Unit-individual units within a company that operate like own businesses EX. LTD |
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Term
| Steps in Strategic Planning |
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Definition
1. Define Mission
2. Evaluate internal and external environment
3 set organizational or SBU objectives
4. establish business portfolio
5. Develop Growth Strategies |
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Term
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Definition
| assessment of a firm's internal and external environments |
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Term
| External Environmental factors |
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Definition
legal
economic
competitive
technological
sociocultural |
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Term
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Definition
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Term
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Definition
| Group of different products or brands owned by having different income generating capabilities |
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Definition
| Assess potential of a firm's SBU to determine how to allocate resources |
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Term
| Boston Consulting Group Matrix |
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Definition
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Term
| Boston Consulting Group Matrix |
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Definition
Question Mark-Low Market Share in fast growth (requires lots of investments
Stars-Large market share in fast grwoth. Goal is to maxamize market share. Threat-increased competition
Cash Cows-Large market share in slow growth-bring $ to support SBUs
Dogs-Marketing... |
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Term
| Product-Market Growth Matrix |
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Definition
| characterizes different strategies based on market and product |
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Term
| Marketing Planning Process |
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Definition
Step 1. Perform SWOT
Step 2-Set brand specific marketing objectives
Step 3. Develop strategies to acheive objectives (target markets)
Step 4.Implement and COntrol Marketing Plan |
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Term
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Definition
| Return on Marketing Invesment=pprofit/cost |
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Term
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Definition
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Term
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Definition
| Product, Pricing, Promotion, Distribution |
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