Term
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Definition
| process of anticipating future events and conditions and of determining the best way to achieve organizational goals. 40 |
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Term
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Definition
| implementing planning activities devoted to acheiving marketing objectives. 41 |
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Term
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Definition
| process of determining an organization's primary objectives and adopting courses of action that will acheive these objectives. 41 |
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Term
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Definition
| planning that guides the implementation of activities specified on the strategic plan. 41 |
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Term
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Definition
| essential purpose that differentiates one company from others. 42 |
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Term
| Marketing PLanning Process |
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Definition
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Term
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Definition
| overall, companywide program for seleccting a particular target market and then satisfying consumers in that market through the marketing mix. 44 |
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Term
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Definition
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Term
| Substaunable Competitive Advantage |
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Definition
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Term
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Definition
| theory advocating that the company that is first to offer a product in a marketplace will be the long-term market winner. 46 |
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Term
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Definition
| (Strengths, Weaknesses, Opportunities, and Threats) Analysis that helps planners compare internal organizational strengths and weaknesses with external opportunities and threats. (figure 2.5), 47 |
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Term
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Definition
| Theory that advocates observing closely the innovations of first movers and then introducing new products that improve on the original offering to gain advantage in the marketplace. 47 |
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Term
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Definition
| limited periods during which the key requirements of a market and the particular competencies of a firm best fit together. 48 |
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Term
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Definition
| the group of people toward whom the firm decides to direct its marketing efforts and ultimately its merchandise. 46 |
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Term
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Definition
| blending of the four strategy elements-product, distribution, promotion, and pricing-to fit the needs and preferences og a specific target market. 49 |
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Term
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Definition
| decisions about what goods or services a firm will offer its customers; also includes decisions about customer service, packaging, brand names, and the like. 51 |
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Term
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Definition
| planning that ensures that consumers find their products in the proper quantities at the right times and places. 50 |
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Term
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Definition
| Communications link between buyers and sellers. Function of informing, persuading, and influencing a consumer's purchase decision. 51 |
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Term
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Definition
| methods of seating profitable and justifiable prices. 51 |
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Term
| Integrated Marketing Communications (IMC) |
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Definition
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Term
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Definition
| meaning that in any industry, the three strongest, most efficient companies dominate between 70 and 90 percent of the market. 52 |
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Term
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Definition
| in which they evaluate their company's proucts and divisions, to determine which are strongest and which are weakest. 54 |
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Term
| Strategic Business Units (SBUs) |
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Definition
| key business units within diversified firms. 55 |
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Term
| Market Share/Market Growth Matrix |
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Definition
| places SBUs in four-quadran chart that plots market share-the percentage of a market that a firm controls-against market growth potential. (figure 2.10) 55 |
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