MKT Ch 2.txt

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MKT Ch 2.txt
2011-02-06 18:05:20

Test #1
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  1. Business
    The clear broad underlying industry or market sector of an organizations offering.
  2. Business Portfolio Analysis
    A technique that managers uae to quantify performance measures and growth targets to analyze its clients' strategic business units (SBUs) as though they were a collection of separate investments.
  3. Competitive Advantage
    A unique stenegth relative to competitors that provides superior returns, often based on quality, time, cost, or innovation.
  4. Core Values
    The fundamental, passionate, and enduring principles of an organization that guide its conduct over time.
  5. Corporate Level
    The level in an organization where top management directs overall strategy for the entire organization.
  6. Cross Functional Teams
    A small number of people from different departments in an organization who are mutually accountable to accomplish a task or common set of performance goals.
  7. Diversification Analysis
    A tool that helps a firm search for growth opportunities from among current and new markets as well as current and new products.
  8. Functional Level
    The level in an organization where groups of specialists actually create value for the organization.
  9. Goals
    Statements of an accomplishment of a task to be achieved, often by a specific time.
  10. Marketing Segmentation
    Involves aggregating prospective buyers into groups, or segments that (1) have common needs and (2) will respond similarly to a marketing action.
  11. Market Share
    The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself.
  12. Marketing Dashboard
    The visual computer display of the essential information related to achieving a marketing objective.
  13. Marketing Metric
    A measure of the quanitative value or trend of a marketing activity or result.
  14. Marketing Plan
    A road map for the marketing activities of an organization for a specified future time period, such as one year or five years.
  15. Marketing Strategy
    The means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program to reach it.
  16. Marketing Tactics
    Detailed day to day operational decisions essential to the overall success of marketing strategies.
  17. Mission
    A statement of the organization's function in society, often identifying its customers, markets, products, and technologies.
  18. Objectives
    Statements of an accomplishment of a task to be achieved, often by a specific time.
  19. Organizational Culture
    The set of values, ideas, attitudes, and norms of behavior that is learned and shared among te members of an organization.
  20. Points of Difference
    Those chsracteristics of a product that make its superior to competitive substitutes.
  21. Proft
    The money left after a business firm's total expenses are subtracted from its total revenues and is the reward for the risk it undertakes in marketing its offerings.
  22. Situation Analysis
    Taking stock of where the firm or produc has been recently, where it is now, and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it.
  23. Strategic Business Unit (SBU)
    A subsidiary, division, or unit or an organization that markets a set of related offerings to a clearly defined group of customers.
  24. Strategic Marketing Process
    The approach whereby an organization allocates its marketing mix resources to reach its target markets.
  25. Strategy
    An organization's long term course of action designed to deliver a unique customer experience while achieving its goals.
  26. SWOT Analysis
    An acronym describing an organization's appraisal of its internal - strengths and weaknesses and its external opportunties and threats.