Marketing Chapter 2 A) SWOT analysisB)
benchmarkingC) business portfolio analysisD) breakeven analysisE) prospecting Answer: C
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STRATEGIC PLANNING: The process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunity |
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 business making up the company. |
GROWTH-SHARE MATRIX: A portfolio-planning method that evaluates a company's strategic business units in terms of their market growth rate and relative market share. SBUs are classified as stars, cash cows, question markets, or dogs. |
PRODUCT/MARKET EXPANSION GRID: A portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification. |
MARKET PENETRATION: A strategy for company growth by increasing sales of current products to current market segments without changing the product. |
MARKET DEVELOPMENT: A strategy for company growth by identifying and developing new market segments for current company products. |
PRODUCT DEVELOPMENT: A strategy for company growth by offering modified or new products to current markets segments. |
DIVERSIFICATION: A strategy for company growth through starting up or acquiring businesses outside the company's current products and marketing. |
DOWNSIZING: Reducing the business portfolio by eliminating products of business units that are not profitable or that no longer fit the company's overall strategy. |
VALUE CHAIN: The series of 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, suppliers, distributors, and ultimately customers who "partner" with each other to improve the performance of the entire system. |
MARKETING STRATEGY: The marketing logic by which the business unit hopes to create customer value and achieve profitable customer relationships. |
MARKETING SEGMENTATION: Dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require separate products or marketing programs. |