Midterm Flashcards
When a company competes in multiple industries.
Corporate Level Marketing Strategy
When a company competes in one industry.
Business Level Marketing Strategy
Company competes in one segment of an industry.
Focus Level Marketing
Company that competes in multiple segments of an industry.
Differentiation Strategy
Company that offers products lower than the average market value.
Low-Cost Marketing Strategy
Marketing partnerships with allies to deliver better content that is cheaper and quicker to create.
Partner with Allies
Create advertisements that get customers to think about the past related to your product.
Tap into Nostalgia
The value a customer is provided when they purchase a product.
Value Proposition
A specific group of people a firm chooses to focus its marketing efforts to.
Target Audience
A prediction of the net profit attributed to the entire future relationship with a customer.
Lifetime Value of Customer
A tool for companies to determine how successful they are at achieving their goals
Marketing Scorecards
Specific measurements that are reported to identify effectiveness of their strategies.
Marketing Metrics
Value in a product that competitors do not offer, providing unique customer benefits.
Differential Benefit Value
All the divisions that play a role in creating value in a product. Each link in the chain has the potential to either add or remove value from the product.
Value Chain
A strategy that involves making a product or service stand out from the competition by being unique
Remarkable Difference
