1. Strategic Planning
    the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities.
  2. Mission Statement
    a statement of the organization's purpose--what it wants to accomplish in the larger environment
  3. Business Portfolio
    the collection of business and products that make up the company
  4. Portfolio Analysis
    the process by which management evaluates the products and businesses that make up the company
  5. 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
  6. Product/Market Expansion Grid
    a portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification
  7. Market Penetration
    a strategy for company growth by increasing sales of current products to current market segments without changing the product
  8. Market Development
    a strategy for company growth by identifying and developing new market segments for current company products
  9. Product Development
    a strategy for company growth by offering modified or new products to current market segments
  10. Diversification
    a strategy for company growth through starting up or acquiring businesses outside the company's current products and markets
  11. 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
  12. Value Chain
    the series of internal departments that carry out value-creating activities to design, produce, market, deliver, and support a firm's products
  13. 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
  14. Marketing Strategy
    the marketing logic by which the company hopes to create customer value and achieve profitable customer relationships
  15. 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
  16. Market Segment
    a group of consumers who respond in a similar way to a given set of marketing efforts
  17. Market Targeting
    the process of evaluating each market segment's attractiveness and selecting one or more segments to enter
  18. Positioning
    arranging for a product to occupy a clear, distinctive, and desirable place realtive to competing products in the minds of target consumers
  19. Differentiation
    actually differentiating the market offering to create superior customer value
  20. 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
  21. SWOT Analysis
    an overall evluation of the company's strengths (S), weaknesses (W), opportunities (O), and threats (T)
  22. Marketing Implementation
    the process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives
  23. 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
  24. Marketing ROI
    • Return on Marketing Investment.
    • the net return from a marketing investment divided by the costs of the marketing investment
Card Set
IBM 301 Chapter 2 Marketing an Introduction Armstrong/Kotler