BMGT350 - Chapter 2

involves adapting the firm to take advantage of opportunities in its constantly changing environment
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evaluation of the products and businesses that make up the company by the managementportfolio analysissteps for a _________ __________ - identifying the strategic business units (SBUs) - assessing the attractiveness of its various SBUs and deciding the support each SBU deservesportfolio analysiswhat is the purpose of a porfolio analysis?to direct resources toward more profitable businesses while phasing out or dropping weaker onescompany strategy should create customer value and build profitable relationships with the key customersmarketing conceptthe marketing concept provides a guiding ______philosophywhat role of marketing helps identify market opportunities and assess the firm's potential to take advantage of them and provides inputs to strategic plannersstrategic planningwhat role of marketing designs strategies fro reaching the unit's objectivesstrategic planningmarketing logic by which the company hopes to create customer value and achieve profitable customer relationships is the ______marketing strategyintegration of product, price, place, and promotionmarekting mixwhat activities are the best marketing strategy and mix involve?marketing analysis and planning, implementation, and controldividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programsmarket segmentationevaluating each market segment's attractiveness and selecting one or more segments to entermarket targetinggroup of customers who responds in a similar way to a given set of marketing effortsmarket segmentwhat are the two factors of target customersproduct and pricewhat are the two factors of intended positioning?promotion and placevariety, quality, design, features, brand name, packaging, and services are all components of __________ for target customersproductlist price, discounts, allowances, payment period, credit terms are all components of _______ for target customerspriceadvertising, personal selling, sales promotion, public relations are all components of _________ for intended positioningpromotionchannels, coverage, locations, inventory, transportation, logistics are all components of _______ for intended positioningplace