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Strategic Planning
the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities.
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Mission Statement
a statement of the organization's purpose--what it wants to accomplish in the larger environment
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Business Portfolio
the collection of business and products that make up the company
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Portfolio Analysis
the process by which management evaluates the products and businesses that make up the company
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Growth-Share Matrix
a portfolio-planning method that evaluates a company's strategic business units (SBU's) in terms of its market growth rate and relative market share. SBU's are classified as stars, cash cows, question marks, or dogs
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Product/Market Expansion Grid
a portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification
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Market Penetration
a strategy for company growth by increasing sales of current products to current market segments without changing the product
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Market Development
a strategy for company growth by identifying and developing new market segments for current company products
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Product Development
a strategy for company growth by offering modified or new products to current market segments
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Diversification
a strategy for company growth through starting up or acquiring businesses outside the company's current products and markets
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Downsizing
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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Value Chain
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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Value Delivery Network
the network made up of the company, suppliers, distributors, and, ultimately, customers who partner with each other to improve the performance of the entire system
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Marketing Strategy
the marketing logic by which the company hopes to create customer value and achieve profitable customer relationships
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Market Segmentation
dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might requjire separate products or marketing programs
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Market Segment
a group of consumers who respond in a similar way to a given set of marketing efforts
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Market Targeting
the process of evaluating each market segment's attractiveness and selecting one or more segments to enter
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Positioning
arranging for a product to occupy a clear, distinctive, and desirable place realtive to competing products in the minds of target consumers
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Differentiation
actually differentiating the market offering to create superior customer value
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Marketing mix
the set of controllable tactical marketing tools--product, price, and promotion--that the firm blends to produce the response it wants in the target market
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SWOT Analysis
an overall evluation of the company's strengths (S), weaknesses (W), opportunities (O), and threats (T)
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Marketing Implementation
the process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives
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Marketing Control
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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Marketing ROI
- Return on Marketing Investment.
- the net return from a marketing investment divided by the costs of the marketing investment
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