A LEGAL ENTITY that consists of people who share a common mission

An organization's LONG-TERM COURSE OF ACTION designed to deliver unique customer experience while achieving its goals

Organizational Purpose

WHY an organization exists, what problems it wishes to solve, and who it wants to be to every person it touches through its work.

statement of an accomplishment of a task, often by a specific time.

describes the clear, broad, underlying industry of a market sector of an organization's offering.

a ROAD MAP for the marketing actions of an organization for a specified future time-period

VISUAL DISPLAY of the essential information related to achieving a marketing objective

A MEASURE of quantitative value or trend of a marketing action or result

aggregating prospective buyers into groups (segments) that 1) have common needs, and 2) will respond similarly to a marketing action.

Strategic Business Unit (SBU)

a semi-autonomous division within a large corporation that operates as an independent business, possessing its own mission, management team, and, specific target markets.

LOW SHARE of HIGH GROWTH market require cash just to maintain their market share

HIGH SHARE at HIGH GROWTH market that may need extra cash to finance future rapid growth. If growth slows they are likely to become Cash Cows.

generate large amounts of cash (HIGH SHARE), more than they can use. Dominant shares in SLOW GROWTH market and provide cash to invest in other SBU's

LOW SHARE, LOW GROWTH market, may generate enough cash to sustain themselves may need to drop

Strategic Marketing Process

ALLOCATION OF an Organization MARKETING MIX resources to reach its target markets and achieve a competitive advantage

TAKING STOCK of where the firm or product has been recently, where it is now, and where it is headed in terms of the organizational marketing plans and external forces and trends affecting it.

is an acronym describing an organization’s appraisal of its internal STRENGTHS and WEAKNESSES and its external OPPORTUNITIES and THREATS.

Customer value proposition

the cluster of BENIFITS that an organization PROMISES CUSTOMERS to satisfy their needs.

CHARACTERISTICS of a product that make it SUPERIOR to competitive substitutes.

the means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program to reach it.

the detailed, DAY-TO-DAY operational marketing actions for each element of the marketing mix that contributes to the overall success of marketing strategies.

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Marketing Chp. 2

Vocab

Term	Definition
Organization	A LEGAL ENTITY that consists of people who share a common mission
Strategy	An organization's LONG-TERM COURSE OF ACTION designed to deliver unique customer experience while achieving its goals
Organizational Purpose	WHY an organization exists, what problems it wishes to solve, and who it wants to be to every person it touches through its work.
objectives/goals	statement of an accomplishment of a task, often by a specific time.
Business	describes the clear, broad, underlying industry of a market sector of an organization's offering.
Marketing plan	a ROAD MAP for the marketing actions of an organization for a specified future time-period
Marketing Dashboard	VISUAL DISPLAY of the essential information related to achieving a marketing objective
Marketing Metric	A MEASURE of quantitative value or trend of a marketing action or result
Market segmentation	aggregating prospective buyers into groups (segments) that 1) have common needs, and 2) will respond similarly to a marketing action.
Strategic Business Unit (SBU)	a semi-autonomous division within a large corporation that operates as an independent business, possessing its own mission, management team, and, specific target markets.
Question Mark	LOW SHARE of HIGH GROWTH market require cash just to maintain their market share
Stars	HIGH SHARE at HIGH GROWTH market that may need extra cash to finance future rapid growth. If growth slows they are likely to become Cash Cows.
Cash Cows	generate large amounts of cash (HIGH SHARE), more than they can use. Dominant shares in SLOW GROWTH market and provide cash to invest in other SBU's
Dogs	LOW SHARE, LOW GROWTH market, may generate enough cash to sustain themselves may need to drop
Strategic Marketing Process	ALLOCATION OF an Organization MARKETING MIX resources to reach its target markets and achieve a competitive advantage
Situation Analysis	TAKING STOCK of where the firm or product has been recently, where it is now, and where it is headed in terms of the organizational marketing plans and external forces and trends affecting it.
SWOT Analysis	is an acronym describing an organization’s appraisal of its internal STRENGTHS and WEAKNESSES and its external OPPORTUNITIES and THREATS.
Customer value proposition	the cluster of BENIFITS that an organization PROMISES CUSTOMERS to satisfy their needs.
Points of difference	CHARACTERISTICS of a product that make it SUPERIOR to competitive substitutes.
Marketing strategy	the means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program to reach it.
Marketing tactics	the detailed, DAY-TO-DAY operational marketing actions for each element of the marketing mix that contributes to the overall success of marketing strategies.

Created by: Rick Dawson

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