Chapter 2 - Co & Mktg Strategy Flashcards
Mission Atatement
A statement of the org’s purpose – what it wants to accomplish in the larger environment.
Strategic Planning
The process of developing and maintaining a strategic fit between the org’s goals and capabilities and it’s changing mktg ops.
Business Portfolio
The collection of businesses and products that make up the co.
Portfolio Analysis
The process by which management evaluates the products and businesses that make up the co.
Growth-share Mateix
A portfolio-planning method that evaluates a company’s SBUs in terms of mkt growth rate and relative mkt share.
Product/market expansion grid
A portfolio-planning tool for identifying co growth opp thru mkt penetration, mkt development, product development, or diversification.
Mkt penetration
Co growth by increasing sales of current products to current mkt segments w/o changing the product
Mkt development
Co growth by identifying and developing new mkt segments for current co products
Product development
Co growth by offering modified or new products to current mkt segments.
Diversification
Co growth thru starting up or acquiring businesses outside the company’s current products and mkts.
Value chain
The series of internal depts that carry out value-creating activities to design, produce, mkt, deliver and support a firm’s products.
Value delivery network
The network made up of the company, its suppliers, its distributors, and ultimately, its customers who partner with each other to improve the performance of the entire system.
Marketing strategy
The marketing logic by which the company hopes to create customer value and achieve profitable customer relationships.
Market segmentation
Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs.
Market segment
A group of consumers who respond in a similar way to a given set of marketing efforts.
