Flashcards
CH2
Cards in this deck (23)
- 1Strategic planningProcess of developing and maintaining a strategic fit between the organisation's goals and capabilities and its changing marketing opportunities
- 2Mission statementA statement of the organisation's purpose : what it wants to accomplish in the larger environment
- 3Business portfolioThe collection of businesses and products that make up the company
- 4Portfolio analysisProcess by which management evaluates the products and businesses that make up the company
- 5Growth-Share MatrixPortfolio-planning method that evaluates a company's SBU's in terms of market growth rate and relative market share
- 6Explain Growth-share matrix1. Stars : high-growth, high-share
2. Cash cows : low-growth, high-share
3. Question marks : low share, high-growth
4. Dogs : low growth, low-share
You can build the share, you can hold, you can harvest, you can divest. - 7Product/market expansionPortfolio tool planning for identifying company growth opportunities through market penetration, market development, product development and diversification
- 8Market penetrationCompany growth by increasing sales of current products to current market segments without changing the products
- 9Market developmentIdentifying and developing new market segments for current company products
- 10Product developmentGrowth by offering modified or new products to current market segments
- 11DiversificationGrowth through starting up or acquiring businesses outside company's current products and markets
- 12DownsizingReducing the business portfolio by eliminating products or businesses that are not profitable or that no longer fit the company's strategy.
- 13Value delivery networkThe network composed of the company, its suppliers, distributors, its customers who partner with each other to improve the performance of the entire system
- 14Marketing strategyThe marketing logic by which the company hopes to create customer value and achieve profitable customer relationships
- 15Market segmentationDividing a market into distinct groups of buyers who have different characteristics, needs or behaviors and who might require separate products or marketing programmes
- 16Market segmentA group of consumers who respond in a similar way to a given set of marketing efforts
- 17Market targetingThe process of evaluating each market segments attractiveness and selecting one or more segments to enter
- 18PositioningArranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers
- 19DifferentiationActually differentiating the market offering to create superior customer value
- 20Marketing mixThe set of tactical marketing tools - product, price, place promotion - that the firm blends to produce the response it wants in the target market.
- 21SWOT analysisStrengths : Internal capabilities that may help the company reach its objectives
Weaknesses : Internal limitations that may interfere with the company's ability to achieve its objectives
Opportunities : External factors that the company may be able to exploit to its advantage
Threats : Current and emerging external factors that may challenge the company's performance - 22Marketing implementationTurning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives
- 23Marketing controlMeasuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are achieved.
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- Flashcards on CH2, created by Mélanie Sala on 26/09/2015.
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- Mélanie Sala
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