Flashcards in Chapter 02 Deck (19):
the money left after afor-profit organization subtracts its total expenses from its total revenues and is the reward for the risk it undertakes in marketing its offerings.
an organization’slong-term course of action designed to deliver a unique customer experience while achieving its goals.
the fundamental, passionate, and enduring principles of an organization that guide its conduct over time.
a statement of the organization’s function in society that often identifies its customers, markets, products, and technologies. The term is often used interchangeably with vision
the set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization.
the clear, broad, underlying industry or market sector of an organization’s offering.
Goals or objectives
the statements of an accomplishment of a task to be achieved, often by a specific time.
the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself.
a road map for the marketing actions of an organization for a specified future time period, such as one year or five years.
a road map for the entire organization for a specified future period of time, such as one year or five years.
the visual computer display of the essential information related to achieving a marketing objective.
a measure of the quantitative value or trend of a marketing action or result.
Business portfolio analysis
a technique that managers use to quantify performance measures and growth targets to analyze their firms’strategic business units (SBUs) as though they were a collection of separate investments.
a technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products.
strategic marketing process
an approach whereby an organization allocates its marketing mix resources to reach its target markets.
taking stock of where the firm or product has been recently, where it is now, and where it is headed in terms of the organization’s marketing plans and the external forces and trends affecting it.
an acronym describing an organization’s appraisal of its internal Strengths and Weaknesses and its external Opportunities and Threats.
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.