Strategic Planning Flashcards
1
Q
Marketing strategy
A
The firm’s target market, the relevant marketing mix, and the bases for the firm’s sustainable competitive advantage
2
Q
Marketing plan elements
A
business mission and objectives, SWOT analysis, target market, marketing mix
3
Q
mission statement
A
Defines the organization’s vision
4
Q
SMART
A
useful objectives are Specific, Measurable, Achievable, Realistic, Time-Specific
5
Q
market penetration
A
existing products, existing markets
6
Q
product development
A
new products, existing markets
7
Q
market development
A
existing products, new markets
8
Q
diversification
A
new products, new markets
9
Q
BCG star
A
high market growth, high market share
10
Q
BCG question mark
A
high market growth, low market share
11
Q
BCG cash cow
A
low market growth, high market share
12
Q
BCG dog
A
low market growth, low market share
