Chapter 2 MGKT Strategic planning for compettive advantage

the managerial process of creating and maintaining a fit betweent he organization's objectives and resources and the evolving market opportunities

the process of anticipating future events and determing strategies to achieve ogranizational objectives in teh future

designing activites relating to marketing objectives and teh changing marketing environment

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

a statement of the firm's business based on a careful analysis of benfits sought by present and potential customers and an analysis of existing and anticipated environmental conditions

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

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

identifying internal strengths (S) and weakness (W) and also examining external opportuniteis (O) and threats (T)

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

a statment of what is to be accomplished through marketing activites

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

• Cost
• Product/Service Differentiation
• Niche Strategies

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

curves that show cost declinign at a predictiable rate as experience with a product increases

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

the advantage achieved whena firm seeks to target and effectivly serve a small segment of teh market

an advantage that cannot be copied by the competition

Increase market share among existing customers

Attract new customers to existing products

Create new products for present markets

Introduce new products into new markets

• Build
• Hold
• Harvest
• Divest

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 is a fast-growing market leader

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

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

in the portfolio matrix, a businesss unit that has low growth potential and a smallmarket share

the activites of selecting and descriving one or more target markets and developing and maintaingin a marketing mix that will produce mutually satisfying exchanges with target markets

the description and estimation of the size and sales potential of market segments that are of interst to teh frim and the assessment of key competitors in these market segments

A unique blend of product, distribution, promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market.

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 wa that accomplishes the plan's objectives

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

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

a though systematic periodic evauation of the objectives stragegies structure and performance of the marketing organization