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| process of developing and maintaing a strategic fit between the organization's goals and capabilities and its changing marketing opportunities |
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| a statement of the organization's purpose |
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| collection of businesses and products that make up the company |
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| process where management evaluates the products and businesses that make up the company |
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| strategic business unit: can be a company division, product line within division, or a single product or brand |
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| portfolio-planning method that evaluates a company's SBU's in terms of its market growth rate and relative market share. here, SBUs are classified as stars, cash cows, question marks or dogs |
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| product/market expansion grid |
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| a portfolio-planning tool for identifying company growth opportunities through market penetration, market development, products development, or diversification |
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| strategy for company growth by increasing sales of current products to current market segments without changing the product |
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| a strategy for company growth by identifying and developing new market segments for current company products |
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| a strategy for company growth by offering modified or new products to current market segments |
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| a strategy for company growth through starting up or acquiring businesses outside the company's current products and markets |
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| reducing the business portfolio by eliminating products or business units that are not profitable or that no longer fit the company's overall strategy |
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| the series of internal departments that carry out value-creating activities to design, produce, market, deliver, and support a firm's products |
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| network made up of the company, suppliers, distributors, and ultimately the customers who partner with each other to improve the performance of the entire system |
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| the marketing logic by which the company hopes to create customer value and achieve profitable customer relationships |
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| company decides which customers it will serve(segmentation and targeting) and how it will serve them (differentiation and positioning) |
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| a group of customers who respond in a similar way to a given set of marketing efforts |
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| process of evaluating each market segment's attractiveness and selecting on or more segments to enter |
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| arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers |
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| actually differentiating the market offering to create superior customer value |
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| set of controllable, tactical marketing tools that the firm blends to produce the response it wants in the target market. PRODUCT, PRICE, PLACE, PROMOTION |
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| goods and services combination the company offers to the target market. variety, quality, design, features, brand name, packaging, services |
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| amount customers pay for the product. list price, discounts, allowances, payment period, credit terms |
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| activities that communicate the merits of the product and persuade target customers to buy it. advertising, personal selling, sales promotion, public relations |
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| includes company activities that make the product available to target consumers. channels, coverage, assortments, locations, inventory, transportation, logistics |
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| an overall evaluation of the company's strengths(s), weaknesses(w), opportunities (o), and threats(t) |
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| managing the marketing effort |
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| analysis, planning, implementation, and control |
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| the process of measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are achieved. |
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