A process that describes the direction an organization will pursue within its chosen environment and guides the allocation of resources and efforts.
The organization's fundamental purpose for existing, as defined by its values and the customers it wishes to serve.
An examining of the strengths and weaknesses of an organization and of the opportunities and threats relevent to the organizations future strategies.
Barriers to Entry
Technological, regulatory, financial, strategic, or other conditions that a company must overcome in order to pursue a business opportunity.
Barriers to Exit
The costs of leaving a particular business or product line.
An individual ( principal-in this case the patient) gives another person (the clinician) the authority or power to make appropriate decisions on his or her behalf.
The value that a producer or provider builds into a product or service.
The value that can be seen by a consumer in a product or service.
An organized and explicit approach of presenting the organization's capabilities to the consumer.
The long term performance targets that a company hopes to achieve.
A strategy to increase sales of existing products and services in present markets.
A strategy of initiating sales of existing products and services in new markets.
A strategy of providing new products to existing markets.
A strategy of incorporating products and services that are related to the firm's existing activities and that have usually been developed and offered by others to the market-place.
A strategy of incorporating new products and services that makes the firm its own supplier.
A strategy of offering new products or services that are closer to the customer than existing products or services.
A strategy of developing new products or services for new markets.
A formal arrangement with other companies to operate in a particular market.
Joint Venture Businesses
A new corporate entity in which both partners have an equity position ( often resulting from a strategic alliance).
A strategy of focusing a firm's business on a smaller set of markets, products or services.
The selling off of a business or product line.
A consolidation strategy in which a firm reduces the number of products or services that it offers to the market.
A consolidation strategy in which a firm withdraws from certain markets.
A consolidation strategy in which a firm gradually withdraws support for a product until there is little or no market demand
A model based on market growth rate and relative market share for focusing company strategies in firms with multiple product lines.
Market Growth Rate
The rate of sales growth in a market.
Relative Market Share
The ratio of a market's share of business within the market compared to that of its largest competitor, or the combined share of the largest three competitors.
A multidimensional model for focusing company strategies in firms with multiple product lines based on dimensions of market attractiveness and business strength.
Five Forces Model of Industry Structure
A model that considers factors affecting the competitive intensity within an industry. Includes the threat of new entrants, bargaining power of suppliers, bargaining power of customers, and the threat of substitute products or services.
Quantitative measures of accomplishment by which the success of marketing strategies can be measured.
A strategy of treating the entire market as one target market and appealing to the broadest group.
A strategy of targeting multiple segments in the market in which distinct marketing strategy might be developed for each group.
Market Concentration Strategy
A marketing strategy in which only one segment of the market is targeted.
The firm that has the largest share and strives to dominate the competitors in the given market.
A firm that confronts the market leader.
A firm that competes in the market by following the market leader rather than by attacking it directly.
A strategy of targeting a narrow segment or segments in the market with specialized products or services.
What are some types of situational analysis?
SWOT, Five Forces, Product/Market Opportunity Matrix, BCG Matrix, GE Matrix