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legal entity of people who share a common mission, which motivates it to develop offerings(goods, services, or ideas) that create value


organizations that develop similar offerings, when grouped together

Business firm

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

Nonprofit organizations

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


philosophical reason for being--why it exists

Core Values

fundamental passionate and enduring principles that guide an organization over time

Mission Statement

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

Organizational culture

set of values, ideas, attitudes, and behavioral norms that is learned and shared among the members of an organization.


the underlying industry or marketing sector of an organization's offering

Goals (objectives)

targets of performance to be achieved, often by a specific time

Market Share

ratio of a firm's sales to the total sales of all firms in the industry

Marketing Dashboard

the visual display of essential marketing information

Marketing Metric

a measure of the value or trend of a marketing activity or result

Marketing Plan

a road map for the marketing activities of an organization for a specified future time period


Strategic Business Unit

Market Growth Rate

the annual rate of growth of the SBU's industry

Relative market share

sales of the SBU divided by he sales of the largest firm in the industry

Cash Cows

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

Question marks

SBUs with a low share of high-growth markets


SBUs with low shares of slow-growth markets

Diversification Analysis

a tool that helps a firm search for growth opportunities from among current and new markets as well as current and new products

Market penetration

a marketing strategy to increase sales of current products in existing markets

Market Development

a marketing strategy to sell existing products to new markets

Product Development

a marketing strategy of selling new products to existing markets


a marketing strategy of developing new products and selling them in new markets

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

SWOT Analysis

appraisal of an organization's internal Strengths and Weaknesses and it's external Opportunities and Threats.

Market Segmentation

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

Marketing Strategy

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

Marketing Tactics

detailed day-to-day operational decisions essential to the overall success of marketing strategies

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