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 that make up the company
Growth-share matrix
A portfolio-planning method that evaluates a company's SBUs in terms of market growth rate and relative market share
Strategic business unit (SBU)
The key business that makes up the company
Product/market expansion grid
A portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification
Market penetration
Company growth by increasing sales of current products to current market segments without changing the product
Market development
Company growth by identifying and developing new market segments for current company products
Product development
Company growth by offering modified or new products to current market segments
Diversification
Company growth through starting up a acquiring businesses outside the company's current products and markets
Value chain
The series of internal 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, its suppliers, its distributors, and its customers who partner with each other to improve the performance of the entire system
Marketing strategy
The marketing logic by which the company hopes to create customer value and achieve profitable customer relationships
Market segmentation
Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products of 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 tactical marketing tools -- product, price, place, and promotion -- that the firm blends to produce the respons it wants in the target market
SWOT analysis
An overall evaluation of the company's strengths (S), weaknesses (W), opportunities (O), and threats (O)
Marketing implementation
Turning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives
Marketing control
Measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved
Marketing return on investment (marketing ROI)
The net return from a marketing investment divided by the costs of the marketing investment
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