chapter 2 notes - Chapter 2 The Marketing Strategy Planning...

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Chapter 2 Strategic marketing plan - a document describing the company’s objectives and how to achieve them in light of competitive activities Core values - the type of behavior expected from a company’s employees Business definition - (company mission)- the fundamental contributions the organization provides to customers Marketing myopia - executives focus on their company’s current products and services rather than on benefits to customers Strategic direction - the desired leadership position of an organization and the measures used to chart progress toward reaching this position. It addresses the competitiveness of the organization and often sets specific growth, profit share, or scope goals relative to the competition and market opportunities. Strategic infrastructure - the corporate configuration that produces the company’s distinctive or core competencies and provides the resources necessary to satisfy customer wants. The idea is focus on specific goods, services, and talents necessary to create customer value in specific market segments. Strategic business unit (SBU)- a part of the firm that can be managed separately for marketing purposes; it may be a division within the company, a separate product or product line, a distinct group of customers, or a unique technology. Portfolio - the collection of SBUs Portfolio-planning tools- measure the contribution each SBU makes to the overall performance of the company Core competencies - the unique resources a company employs as its specialty to create superior customer value. They are the building blocks of competitive advantage. Types of core competencies
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chapter 2 notes - Chapter 2 The Marketing Strategy Planning...

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