Chapter 2 Flashcards
(28 cards)
The clear, broad, underlying industry or market sector of an organization’s offerings.
business
A road map for the entire organization for a specified future period of time, such as one year or five years.
business plan
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.
business portfolio analysis
A unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation.
competitive advantage
The fundamental, passionate, enduring principles of an organization that guide its conduct over time.
core values
The level in an organization where top management directs overall strategy for the entire organization.
corporate level
A small number of people from different departments in an organization who are mutually accountable to accomplish a task or a common set of performance goals.
cross-functional teams
A technique that helps firms search for growth opportunities from among current and new markets as well as current and new products.
diversification analysis
The level in an organization where groups of specialists actually create value for the organization.
functional level
Statements of an accomplishment of a task to be achieved, often by a specific time.
goals
goals are a.k.a.
objectives
Involves aggregating prospective buyers into groups, or segments, that (1) have common needs and (2) will respond similarly to a marketing action.
market segmentation
The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself.
market share
The visual computer display of the essential information related to achieving a market objective.
marketing dashboard
A measure of the quantitative value or trend of a marketing activity or result.
marketing metric
A road map for the marketing activities of an organization for a specified future time period, such as one year or five years.
marketing plan
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 strategy
Detailed day to day operational decisions essential to the overall success of marketing strategies.
marketing tactics
A statement of the organization’s function in society that often identifies its customers, markets, products, and technologies.
mission
Often used interchangeably with vision.
mission
Statements of an accomplishment of a task to be achieved, often by a specified time. Also called goals.
objectives
The set of values, ideas, attitudes, and norms of behavior that is learned and shared among members of an organization.
organizational culture
Those characteristics of a product that make it superior to competitive substitutes.
points of difference.
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.
situational analysis
