working closely with partners in other company departments and outside the

Working closely with partners in other company

This preview shows page 2 - 4 out of 16 pages.

working closely with partners in other company departments and outside the company to jointly bring more value to customers. (p20) Customer lifetime value the value of the entire stream of purchases that the customer would make over a lifetime of patronage. (p21) Share of customer the portion of the customer’s purchasing that a company gets in its product categories. (p22) Customer equity the total combined customer lifetime values of all the company’s current and potential customers. (p23) Internet a vast public web of computer networks that connects users of all types all around the world to each other and to an amazingly large information repository. (p28) CH2 Strategic planning the process of developing and maintaining a strategic fit between the organizations goals and capabilities and its changing marketing opportunities (p42) Mission statement a statement of the organizations purpose – what it wants to accomplish in the larger environment (p43) Business portfolio the collection of businesses and products that make up the company (p47) Portfolio analysis the process by which management evaluates the products and businesses that make up the company (p47) Growth share matrix a portfolio planning method that evaluates a company’s SBUs in terms of its market growth rate and relative market share. (p47)
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Product/market expansion grid a portfolio planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification. (p49) Market penetration company growth by increasing sales of current products to current market segments without changing product. (p49) Market development company growth by identifying and developing new market segments for current company products. (p50) Product development company growth by offering modified or new products to current market segments. (p50) Diversification company growth through starting up or acquiring businesses outside the company’s current products and markets. (p50) Value chain the series of internal departments that carry out value-creating activities to design, produce, market, deliver, and support a firm’s products. (p51) Value delivery network the network made up of the company, its suppliers, its distributors, and ultimately, its customers who partner with each other to improve the performance of the entire system. (p52) Marketing strategy the marketing logic by which the company hopes to create customer value and achieve profitable customer relationships. (p53) Market segmentation dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs. (p54) Market segment a group of consumers who respond in a similar way to a given set of marketing efforts. (p54) Market targeting the process of evaluating each market segment’s attractiveness and selecting one or more segments to enter. (p54) Positioning arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. (p55) Differentiation actually differentiating the market offering to create superior customer value. (p56)
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