Marketing Chapter 2

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Marketing Chapter 2
2013-02-25 20:45:12

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  1. The process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities.  
    Strategic Planning
  2. A statement of the organization's purpose-what it wants to accomplish in the larger environment.  
    Mission Statement 
  3. The collection of businesses and products that make up the company.
    Business Portfolio
  4. The process by which management evaluates the products and businesses that make up the company. 
    Portofolio Analysis
  5. A portfolio-planning method the evaluates a company's SBU's in terms of its market growth rate and relative market share. 
    Growth-share matrix
  6. A portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification. 
    Product/market expansion grid
  7. Company growth by increasing sales of current products to current market segments without changing the product. 
    Market Penetration 
  8. Company growth by identifying and developing new market segments for current company products. 
    Market Development 
  9. Company growth by offering modified or new products to current market segments. 
    Product Development 
  10. Company growth through starting up or acquiring businesses outside the company's current products and markets.
  11. The series of internal departments that carry out value-creating activities to design, produce, market, deliver, and support a firm's products. 
    Value Chain
  12. 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. 
    Value Delivery Network
  13. The marketing logic by which the company hopes to create customer value and achieve profitable customer relationships.  
    Marketing Strategy 
  14. Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs. 
    Market Segmentation
  15. A group of consumers who respond in a similar way to a given set of marketing efforts. 
    Market segment
  16. The process of evaluating each market segment's attractiveness and selecting one or more segments to enter. 
    Market Targeting
  17. Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. 
  18. Actually differentiating the market offering to create superior customer value. 
  19. 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.
    Marketing Mix
  20. Turning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives. 
    Marketing Implementation 
  21. Measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved. 
    Marketing Control
  22. The net return from a marketing investment divided by the costs of the marketing investment.  
    Return on marketing investment