Chapter 2 Flashcards
Strategy
An org. L-T course of action designed to deliver unique cust. exp while achieving org. goals
Corporate level
Level at which top management directs overall strategy for org.
Marketing accountability
responsibility for the systematic management of marketing resources and processes to achieve measurable gains on marketing investments and increase marketing efficiency while increasing org value while maintaining quality
Strategic business unit
Subsidiary or division of an org. that markets a set of related offerings to a clearly defined group of customers
SBU level
A business unit level where managers set a more specific strategic direction for their business to exploit value creating opportunities
Functional level
Level in an org. where groups of specialists actually create value to the entreprise
Crossfunctional teams
Several number of ppl from various departments that are accountable to complete task of an org. goals (performance goals)
Core values
Fundamental passionate and enduring principles that guide org.
Mission
Statement of the org’S function in society, often indentifying its customers, markets, products and technologies
Organizational culture
Set of values, ideas, attitudes and norms of behaviour that is learned and showed among numbers of an org.
business
The clear, broad, underlying industryor market sector of an org’s offering
Business model
The strategies an org develops to provide value to the customers it serves
Goals/Objectives
Statements of an accomplishment of a task to be achieved by a specific time
Marketing Plan
Road map for the marketing activities of an organization for a specified future period of time
Competencies
Org’s special capabilities (skills, technologies, resources) that distinguishes them from competition
Competitive advantage
Unique strength relative to competitors often based on quality, price, time, costs ,etc
Benchmarking
Discovering how others fo something better than you and then imitated of leap frog
Quality
Features and characteristics that influences its ability to satisfy customer needs
Marketing dashboard
Visual computer display of the essential info related to achieving a marketing objective
Marketing Metric
A measure of quantitative value or trend of a marketing activity or result
Strategies marketing process
Process where org. allocates marketing mix resources to meet target goals/obj.
Situational analysis
Taking stock of where org has been, is and where it will be and what factors affect it
Market segment
Homogenous group of prospective buyers grouped from segmentation
Point of difference
Characteristics of product that makes it different
