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18 terms

Final L19 CH22

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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