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Definition
| the managerial process of creating and maintaining a fit between the organization's objectives and resources and evolving market opportunities |
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| The process of anticipating future events and determining strategies to achieve organizational objectives in the future |
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| Designing activities relating to marketing obejctives and the changing markeitng environment |
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| A written document that acts as a gudie book of marketing activities for the marketing manager. |
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| A statement of the firm's business based on a careful analysis of benefits sought by present an dpotential customers and an analysis of existing and anticipated einvironmental conditions. |
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| defining a business in terms of good and serices rather than in terms of the benefits that customer seek. |
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| Strategic Business Unit (SBU) |
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| A subgroup of a single business or collection of realted businesses within the larger organization. |
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| A statement of what is to be accomplished through marketing activities |
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| Identifying internal strengths (S) and weakensses (W) and also examining external opportunities (O) and threats (T) |
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| Collection and interpretation of information about forces, events, and realtionships in the external enviroment that may affect the future of the organization or the implementation of the marketing plan |
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| The set of unique features of a company and its products that are perceived by the target market as signficant and superior to the competition |
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| Cost Competitive Advantage |
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Definition
| Being the low-cost competitor in an industry while maintainging satisfactory profit margins |
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Definition
| Curves that show costs declining at a perdicable rate as experience with a produt increases |
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| Product/Service Differentiation Competitive Advantage |
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| The provision of something that is unique and valuable to buyers beyond simplyoffering a lower price than the competition's |
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| Niche Competitive Advantage |
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Definition
| The advantage achieved when a firm seeks to target and effectively serva a small segment of the market |
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| Sustainable Competitive Advantage |
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| An advantage that cannot be copied by the competition |
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| A marketing strategy that tries to increase market share among exisitng customers |
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| A marketing startegy that engails attracting new cutomers to existing products |
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| A marketing Strategy that entails the creation of new products for current customers |
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| A strategy of increasing sales by intorducing new products into new markets |
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Definition
| A tool for allocating resources among products or strategic business on the basis of relative market share and market growth rate |
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Definition
| in the portoflio matrix, a business unit that is a fast-growing market leader |
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Definition
| In the portfolio matrix, a business unit that usually generates more cash than it needs to maintain its market share. |
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Problem Child
(Question Mark) |
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Definition
| In the portfolio matrix, a busines sunit that shows rapid growth bt poor profit margins. |
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Definition
| In the portfolio matrix, a business unit that has low growth potential and a small market share |
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Definition
| The activities of selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets |
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| Marketing Opportunity Analysis (MOA) |
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Definition
| The description and estimation of the size and sales potential of market segments that are of interest to the firm and assessment of key competitiors in these market segements |
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Definition
| A unique blend of product, place, promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market |
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Definition
| Product, Plae, Promotion, and Price, which together make up the marketing mix |
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Definition
| The process that turns a gmarketing plan into action assignments and ensures that these assignemnts are executed in a a way that accomplishes the pan's objectives. |
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Definition
| Gauging the extent to which the marketing objectives have been achieved during the specified time period. |
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| Provides the mechanisms for evaluating marketing results in light of the plan's objectives and for correcting actions that do not hlep the organization reach those objectives iwthin budget guidelines |
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Definition
| A thorough, systematic, periodic evaluation of the objectives, strategies, structure, and performance of the marketing organization. |
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