P21 Flashcards
(36 cards)
What are the functions of objectives in marketing?
- Decision making
- Coordination
- Motivation
- Controlling
What is the means-end relation regarding objectives?
Objectives must always be in line with internal/external situations.
List the types of economical marketing objectives.
- Volume/sales
- Turnover
- Contribution
- Profitability
- Market share
- Profits
- Price levels
- Distribution rate
What are psychological marketing objectives?
- Awareness (active/passive)
- Image
- Customer satisfaction
- Brand loyalty
- Captured market/penetrated market
- Buying frequency
What are market-oriented company objectives?
- Turnover/revenue
- Market share
- New markets
Define profitability-oriented company objectives.
- Profit
- Return on investment (ROI)
- Company value
What are environmental company objectives?
- Reduction of emissions
- Water consumption and wastewater
- Consumption of natural resources
- Recycling rate
What are the key pillars of social company objectives?
- Job satisfaction
- Wages
- Income
- Employer’s contribution
- Fluctuation
- Reduction of sick days
- Social integration
- Diversity
- Corporate governance
What does financial company objectives include?
- Liquidity
- Internal financing
- Equity structure
- Earnings before interest, taxes, depreciation, and amortization (EBITDA)
- Profit/earnings
- Cost reduction/cost cutting
- Production costs
- Procurement costs
- Cost of logistics
What are the components of formulating objectives?
- Content - What?
- Extent - How much?
- Time - Till when?
- Scope - Where?
What is a vision in the hierarchy of objectives?
Where we want to be in the future
What defines a mission in the context of marketing objectives?
Describes the core purpose, activities, and values of the company.
What are corporate objectives?
Company-wide measurable goals often financial, growth, or market-related.
What are marketing objectives?
What each department contributes to the corporate goals.
Define instrumental objectives.
Concrete and measurable activities directly tied to the marketing mix (4Ps).
What is the purpose of the Boston Consulting Group (BCG) portfolio matrix?
Visualizes chances and risks of different SBUs/brands in a company.
List the four categories of the BCG portfolio matrix.
- Stars
- Cash Cows
- Question Marks
- Dogs
What does the Ansoff Matrix categorize?
Growth strategies for existing and new markets and products.
What are the four strategies in the Ansoff Matrix?
- Market Penetration
- Market Development
- Product Development
- Diversification
What is cost leadership in Porter’s Generic Strategies?
Compete by offering products at the lowest possible cost.
Define differentiation/quality leadership.
Compete by offering unique product features, better quality, or added value.
What is market potential?
All consumers who show interest in a product/service.
How is market volume calculated?
Total turnover of all competitors.
What is brand loyalty?
Repeat buying and emotional attachment to a brand.
