legal entity of people who share a common mission, which motivates it to develop offerings(goods, services, or ideas) that create value
privately owned organization that serves its customers in order to earn a profit so that i can survive
the money left after a business firm's total expenses are subtracted from its total revenues or sales and is the reward for the risk it undertakes in marketing its offerings
a nongovernmental organization that serves its customers but does not have profit as an organizational goal.
organization's long-term course of action designed to deliver a unique customer experience while achieving its goals
a statement of the organization's function in society, often identifying its customers, markets products and technologies. Should be clear, concise, meaningful, inspiration and longterm
set of values, ideas, attitudes, and behavioral norms that is learned and shared among the members of an organization.
a road map for the marketing activities of an organization for a specified future time period
SBUs that generate large amounts of cash, far more than they can invest profitably in themselves
SBUs with a high share of high-growth markets that may need extra cash to finance their own rapid future growth
a tool that helps a firm search for growth opportunities from among current and new markets as well as current and new products
Strategic Marketing process
approach whereby an organization allocates its marketing mix resources to reach its target markets
Situation (SWOT) Analysis
taking stock of where a firm or product has been recently, where it is now, and where it is headed
appraisal of an organization's internal Strengths and Weaknesses and it's external Opportunities and Threats.
sorting potential buyers into groups that have common needs and will respond similarly to a marketing action
Points of Difference
those characteristics of a product that make it superior to competitive substitutes
the means by which a marketing goal is to be achieved, usually characterize by a specified target market and a marketing program to reach it