Marketing Planning - Chapter 18 Flashcards
business mission
the organisations purpose, usually setting out its competitive domain, which distinguishes thee business from others of its type
competitive positioning
consist of 3 key elements: target markets, competitive targets and establishing a competitive advantage
competitive analysis
an examination of the nature of actual and potential competitors, and their objectives and strategies
competitor targets
The organisations against which a company chooses to compete directly
control
the stage in the marketing planning process or cycle when the performance again plan is monitored so that corrective action, if necessary, can be taken
core marketing strategy
the means of achieving marketing objectives, including target markets, competitor targets and competitive advantage
customer analysis
a survey of who the customers are, what choice criteria they use,, how they rate competitive offerings and on what variables they can be segmented
distribution analysis
an examination of movements in power bases, channel attractiveness, physical distribution and distribution behaviour
macro environment
a number of broader forces that affect not only the company but the other actors in the environment e.g. social, political, technological and economic
market analysis
the statistical analysis of market size, growth rates and trends
marketing audit
a systematic examination of a business’s marketing environment, objectives, strategies and activities with a view to identifying key strategic issues, problem areas and opportunities
marketing objectives
there are two types of marketing objective; strategic thrust, which dictates which products should be sold in which markets, and strategic objectives- that is, product level objectives such as build, hold, harvest and divest
marketing planning
the process by which businesses analyse the environment and their capabilities decided upon courses of marketing action and implement those decisions
marketing structure
the marketing frameworks (organisation, training and internal communications) upon which marketing activities are based
marketing systems
sets of connected parts (info, planning and control) that support the marketing function
microenvironment
the actors in the firm’s immediate environment that affect its capability to operate effectively in its chosen markets- namely, suppliers, distributors, customers and competitors
product portfolio
the total range of products offered by the company
strategic business unit
a business or company division serving a distinct group of customers and with a distinct set of competitors, usually strategically autonomous
strategic issues analysis
an examination of the suitability of marketing objectives and segmentation basses in the light of changes in the marketplace
strategic objectives
product-level objectives relating to the decision to build, hold, harvest or digest the products
strategic thrust
the decision concerning which products to sell in which markets
supplier analysis
an examination of who and where suppliers are located , their competences and shortcomings, the trends affecting them and the future outlook for them
SWOT analysis
a structured approach to evaluating the strategic position of a business by identifying its strengths, weaknesses, opportunities and threats.
target market
A market segment that has been selected as a focus for the company’s offering or communications
