Consumer needs without compromising the ability of

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consumer needs without compromising the ability of future generations to meet their needs Return on investment (ROI) – the direct financial impact of a firm’s expenditure of a resource such as time or money Business planning – an ongoing process of making decisions that guide the firm both in the short term and for the long haul Business plan – a plan that includes the decisions that guide the entire organization Marketing plan – a document that describes the marketing environment, outlines the marketing objectives and strategy, and identifies who will be responsible for carrying out each part of the marketing strategy Strategic planning – a managerial decision process that matches an organization’s resources and capabilities to its market opportunities for long-term growth and survival Functional planning – a decision process that concentrates on developing detailed plans for strategies and tactics for the short term that support an organization’s long-term strategic plan Operational planning – a decision process that focuses on developing detailed plans for day-to-day activities that carry out an organization’s functional plans Strategic business units (SBUs) – individual units within the firm that operate like separate businesses, with each having its own mission, business objectives, resources, managers, and competitors.
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Mission statement – a formal statement in an organization’s strategic plan that describes the overall purpose of the organization and what it intends to achieve in terms of its customers, products, and resources Situation analysis – an assessment of a firm’s internal and external environments Internal environment – the controllable elements inside an organization, including its people, its facilities, and how it does things that influence the operations of the organization External environment – the uncontrollable elements outside an organization that may affect its performance either positively or negatively SWOT analysis – an analysis of an organization’s strengths and weaknesses and the opportunities and threats in an external environment Business portfolio – the group of different products or brands owned by an organization and characterized by different income-generating and growth capabilities Portfolio analysis – a management tool for evaluating a firm’s business mix and assessing the potential of an organization’s strategic business units BCG growth market share matrix – a portfolio analysis model developed by the Boston Consulting Group that assesses the potential of successful products to generate cash that a firm can then use to invest in new products Stars – SBUs with products that have a dominant market share in high-growth markets Cash cows – SBUs with a dominant market share in a low-growth potential market Question marks – SBUs with low market shares in fast-growth markets Dogs – SBUs with a small share of slow-growth market. They are businesses that offer
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  • Spring '08
  • billthompson
  • Marketing, organization Marketing plan

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