Mktg2

in the portfolio matrix, a business unit that generates more cash than it needs to maintain its market share

• a set of unique features of a
• company and its products that are perceived by the target market as
• significant and superior to the competition

• 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

being the low–cost competitor in an industry while maintaining satisfactory profit margins

a strategy of increasing sales by introducing new products into new markets

in the portfolio matrix, a business unit that has low growth potential and a small market share

• collection and interpretation
• of information about forces, events, and relationships in the external
• environment that may affect the future of the organization or the
• implementation of the marketing plan

gauging the extent to which the marketing objectives have been achieved during the specified time period

curves that show costs declining at a predictable rate as experience with a product increases

product, place, promotion, and price, which together make up the marketing mix

• 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

a marketing strategy that entails attracting new customers to existing products

• the description and estimation
• of the size and sales potential of market segments that are of interest
• to the firm and the assessment of key competitors in these market
• segments

a marketing strategy that tries to increase market share among existing customers

• a thorough, systematic,
• periodic evaluation of the objectives, strategies, structure, and
• performance of the marketing organization

• a unique blend of product,
• place (distribution), promotion, and pricing strategies designed to
• produce mutually satisfying exchanges with a target market

defining a business in terms of goods and services rather than in terms of the benefits customers seek

a statement of what is to be accomplished through marketing activities

a written document that acts as a guidebook of marketing activities for the marketing manager

designing activities relating to marketing objectives and the changing marketing environment

• 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

• 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

the advantage achieved when a firm seeks to target and effectively serve a small segment of the market

the process of anticipating future events and determining strategies to achieve organizational objectives in the future

• a tool for allocating
• resources among products or strategic business units on the basis of
• relative market share and market growth rate

in the portfolio matrix, a business unit that shows rapid growth but poor profit margins

a marketing strategy that entails the creation of new products for present markets

the provision of something that is unique and valuable to buyers beyond simply offering a lower price than the competition’s

in the portfolio matrix, a business unit that is a fast–growing market leader

a subgroup of a single business or collection of related businesses within the larger organization

• the managerial process of
• creating and maintaining a fit between the organization’s objectives and
• resources and the evolving market opportunities

an advantage that cannot be copied by the competition

identifying internal strengths (S) and weaknesses (W) and also examining external opportunities (O) and threats (T)