Final L19 CH22

Created by serioj89 

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action item list

an aid to implementing a marketing plan, consisting of four columns: (1) the task (2) the person responsible for completing that task (3) the date to finish the task and (4) what is to be delivered

cost focus strategy

one of Porter's generic business strategies that involves controlling expenses and, in turn, lowering product prices targeted at a narrow range of market segments

differentiation focus strategy

one of Porter's generic business strategies that requires products to have significant points of difference to target one or only a few market segments

differentiation strategy

one of Porter's generic business strategies that requires products to have significant points of difference in product offerings, brand image, higher quality, advance technology, or superior service to charge a higher price while targeting a broad array of market segments

diversification analysis

the search for growth opportunities from among current and new markets as well as current and new products

functional groupings

organizational groupings that represent the different departments or business activities within a firm

generic business strategy

a strategy that can be adopted by any firm, regardless of the product or industry involved, to achieve a competitive advantage

geographical groupings

organizational groupings in which sales territories are subdivided according to geographical location

line positions

managers who have the authority and responsibility to issue orders to the people who report to them

market-based groupings

organizational groupings that utilize specific customer segments

marketing ROI

the application of modern measurement technologies to understand,, quantify , and optimize marketing spending

product line groupings

organizational groupings in which a unit is responsible for specific product offerings

product or program champion

a person who is able and willing to cut red tape and move the program forward

sales response function

relates the expense of marketing effort to the marketing results obtained

share points

an analysis that uses percentage points of market share as the common basis of comparison to allocate marketing resources effectively for different product lines within the same firm

staff positions

people who have the authority and responsibility to advise people in line positions but cannot issue direct orders to them

synergy analysis

seeks growth opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies

cost leadership strategy

one of Porter's generic business strategies that focuses on reducing expenses and, in turn, lowers product prices while targeting abroad array of market segments

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