Save
Busy. Please wait.
Log in with Clever
or

show password
Forgot Password?

Don't have an account?  Sign up 
Sign up using Clever
or

Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Chp. 2 Marketing

QuestionAnswer
Strategic Planning The process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities.
Mission statement A statement of the organization's purpose - what it wants to accomplish in the larger environment.
Business portfolio The collection of businesses and products that make up the company.
Portfolio analysis The process by which management evaluates the products and businesses making up the company.
Growth-share matrix A portfolio-planning method that evaluates a company's strategic business units in terms of their market growth rate and relative market share. SBUs are classified as stars, cash cows, question marks, or dogs.
Product/market expansion grid A portfolio-planning tool for identifying company growth oppportunities through market penetration, market development, product development, or diversification.
Market penetration A strategy for company growth by increasing sales of current products to current market segments without changing the product.
Market development A strategy for company growth by identifying and developing new market segments for current company products.
Product development A strategy for company growth by offering modified or new products to current market segments.
Diversification A strategy for company growth through starting up or acquiring businesses outside the company's current products and markets.
Downsizing Reducing the business portfolio by eliminating products of business units that are not profitable or that no longer fit the company's overall strategy.
Value chain The series of departments that carry out value-creating activities to design, produce, market, deliver, and support a firm's products.
Value delivery network The network made up of the company, suppliers, distributors, and ultimately customers who "partner" with each other to improve the performance of the entire system.
Marketing strategy The marketing logic by which the business unit hopes to create customer value and achieve profitable customer relationships.
Market segmentation Dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behavior 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.
Market targeting The process of evaluating each market segment's attractiveness and selecting one or more segments to enter.
Positioning Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
Differentiation Actually differentiating the market offering to create superior customer value.
Marketing mix The set of controllable tactical marketing tools - product, price, place, and promotion - that the firm blends to produce the response it wants in the target market.
SWOT analysis An overall evaluation of the company's strengths, weaknesses, opportunities, and threats.
Marketing implementation The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives.
Marketing control The process of measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are achieved.
Marketing audit Comprehensive,systematic,independent,and periodic examination of a company's enviroment, objectives, strategies, anf activities to determine problem areas and opportunities and to recommend a plan of action to improve the company's marketing performance
Return on marketing investment The net return from a marketing investment divided by the costs of the marketing investment.
Created by: tgrant1
Popular Marketing sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards