Marketing Chapter 2

The process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities.  

A statement of the organization's purpose-what it wants to accomplish in the larger environment.  

The collection of businesses and products that make up the company.

The process by which management evaluates the products and businesses that make up the company. 

A portfolio-planning method the evaluates a company's SBU's in terms of its market growth rate and relative market share. 

A portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification. 

Company growth by increasing sales of current products to current market segments without changing the product. 

Company growth by identifying and developing new market segments for current company products. 

Company growth by offering modified or new products to current market segments. 

Company growth through starting up or acquiring businesses outside the company's current products and markets.

The series of internal departments that carry out value-creating activities to design, produce, market, deliver, and support a firm's products. 

The network made up of the company, its suppliers, its distributors, and, ultimately, its customers who partner with each other to improve the performance of the entire system. 

The marketing logic by which the company hopes to create customer value and achieve profitable customer relationships.  

Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs. 

A group of consumers who respond in a similar way to a given set of marketing efforts. 

The process of evaluating each market segment's attractiveness and selecting one or more segments to enter. 

Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. 

Actually differentiating the market offering to create superior customer value. 

The set of tactical marketing tools- product, price, place, and promotion- that the firm blends to produce the response it wants in the target market.

Turning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives. 

Measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved. 

The net return from a marketing investment divided by the costs of the marketing investment.