CH 2 ACCESS POWERPOINT Flashcards
Legal entities that consist of people who share a common mission is known as a
Organization
T/F- Organizations develop offerings that create value
True
What are the three different types of organizations?
For-profit
Non-profit
Government Agencies
A group of companies with similar offerings are known as
Industry
What part of a company oversees the three levels of strategy in organizations: corporate, business unit, and functional
Board of Directors
Groups of specialists that create value are apart of which company level?
Functional Levels
Functions such as operations, marketing, and finance in a company is known as
Departments
Different departments contribute to a performance goal is known as
Cross-functional teams
What model includes the strategies an organization develops to provide value to customers are known as
Business models
What are some the goals or objectives of a company?
Profit
Sales (dollars or units)
Market share
Quality
Customer satisfaction
Employee welfare
Social responsibility
Efficiency (nonprofit organizations)
What are the three ways strategies can vary by level? And strategies, can vary by product (or offering)
Corporate level
SBU level
Functional level
Product, services, and ideas
The road map for the marketing actions is known as
Marketing Plan
A _______ ________ is the visual computer display of the essential information related to achieving a marketing objective.
Marketing Dashboard
a measure of the quantitative value or
trend of a marketing action or result is known as
Marketing Metric
What is the formula of Dollar sales?
Dollar sales= Average price X Quantity sold
What is the dollar market share formula?
Sales DIVIDED BY Total Industry Sales
Why would you configure dollar sales and dollar market share?
Compare results with the goals
Compare with previous years
Leads to marketing actions
What type of analysis is used to quantify performance measures and growth targets?
Business Portfolio Analysis
Which of the following represents low share of high-growth market?
Question Marks
Stars
Cash Cows
Dogs
Question Marks
Which of the following represents high share of high growth markets?
Question Marks
Stars
Cash Cows
Dogs
Stars
Which of the following generates large amounts of cash?
Question Marks
Stars
Cash Cows
Dogs
Cash Cows
Which of the following represents low share of slow growth markets?
Question Marks
Stars
Cash Cows
Dogs
Dogs
slide19 shows good example
19-22 copied in other brainscape
What are the 4 guiding principles and assumptions of the strategic marketing process?
1) Customers are different
2) Customers change
3) Competitors change and react
4) Organizational resources are limited
What is the abbreviation of SWOT
Strengths
Weaknesses
Opportunities
Threats
SWOT analysis actions apply to each cell help do what within a company?
Build on a strength
Correct a weakness
Exploit an opportunity
Avoid a disaster-laden threat
What term involves aggregating prospective
buyers into groups, or segments, that
(1) have common needs and
(2) will respond similarly to a marketing action.
Market Segmentation
the cluster of benefits that an organization promises customers to satisfy their needs this is known as
Customer value proposition
_____ ___ ______ are those characteristics of a product that make it superior to competitive substitutes.
Points of Difference
Planning Phase Step 3 involves using the 4 P’s of the marketing mix what are they
Product Strategy
Price Strategy
Promotion Strat
Place Strat
What are the 4 components of the implementation phase?
1) Obtaining resources
2) Designing the marketing organization
3) Defining precise tasks, responsibilities, and deadlines
4) Executing the marketing program
slide 31?
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.
Marketing Strategy
the detailed, day-to-day operational
marketing actions for each element of the marketing mix that contributes to the overall success of marketing strategies.
Marketing tactics
The evaluation phase seeks to keep the marketing program moving correctly by comparing results with plans by
Identifying deviations and planning gaps
the money left after a for-profit organization subtracts its total expenses from its total revenues and is the reward for the risk it undertakes in marketing its offerings is known as
Profit
an organization’s long-term course of action
designed to deliver a unique customer experience while achieving its goals.
Strategy
the fundamental, passionate, and enduring
principles of an organization that guide its conduct over time are known as
Core Values
a statement of the organization’s function in
society that often identifies its customers, markets, products, and technologies. The term is often used interchangeably with vision. This is known as
Mission
What type of culture consists of the set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization.
Organizational Culture
A______ describes the clear, broad, underlying industry, or market sector of an organization’s offering.
Business
These two terms are the statements of an accomplishment of a task to be achieved, often by a specific time.
Goals or objectives
the ratio of sales revenue of the firm to the
total sales revenue of all firms in the industry, including the firm itself is known as
Market Share
a technique that managers use to quantify performance measures and growth targets to analyze their firms’ strategic business units (SBUs) as though they were a collection of separate investments.
Business Portfolio analysis
a technique that helps a firm search for growth opportunities from among current and new
markets as well as current and new products this is known as
Diversification Analysis
an approach whereby an organization allocates its marketing mix resources to reach its
target markets this is known as
Strategic Marketing Process
What type of analysis involves taking stock of where the firm or product 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.
Situation analysis
