marketing an introduction chapter 2

strategic planning
the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities
mission statement
a statement of the organization’s purpose- what it wants to accomplish in the larger environment
business portfolio
the collection of businesses and products that make up the company
portfolio analysis
the process by which management evaluates the products and businesses making up the company
growth-share matrix
a portfolio-planning method that evaluates a company’s strategic business units in terms of their market growth rate and relative market share. SBUs are classified as stars, cash cows, question mark, or dogs
product-market expansion grid
a portfolio-planning tool for identifying company growth opportunities trough market penentration, market development, product development, or diversification
market penetration
a strategy for company growth by increasins sales of current products to current markets segments without changing the product. existing market, existing product
market development
a strategy for company growth by indentifying and developing new market segments for current company product. new market, existing product
product development
a strategy for company growth by offering modified or new products to current market segments. existing market, new product
diversification
a strategy for company growth through starting up of acquiring businesses outside the company’s current product and markets. new product, new market
downsizing
reducing the business portfolio by eliminating products of business units that are not profitable or that no longer fit the company’s overall strategy
value chain
the serie of departments that carry out value-creating activities to design, produce, market, deliver, and support a firm’s products
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
marketing strategy
the marketing logic by which business unit hopes to create customer value and achieve profitable customer relationships
market segmentation
dividing a market into distinct groups of buyers who have same needs, characteristics, or behavior and who might require separate products or marketing programs
market segment
a groups of consumers who respons in a similar way to a given set of marketing efforts
market targeting
the process of evaluating each market segment’s attractiveness and selecting one or more segments to enter
positioning
arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers
differentiation
actually differentiating the market offerings to create superior customer value
marketing mix
the set of controllable tactical marketing tools- products, price, place, and promotion- that the firm blends to produce the response it wants in the target market.
SWOT analysis
an overall evaluation of the company’s SWOT
marketing implementation
the process taht turns marketing strategies and plans into marketing actions in order to accomplish strategic markting objectives
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
marketing audit
a comprehensive, systematic, independent and periodic examination of a company’s environment, objectives, strategies, and activities to determine problem areas and opportunities and to recommend a plan of action to improve the company’s marketing performance
Return on marketing investment ( ROI )
Net return ( from a marketing investment ) : Costs ( of the marketing investment )