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Business
Definition
Describes the contributions the business makes to consumers ad society; also called the company mission TERM 2
Core Competencies
DEFINITION 2 The unique resources a company develops and promotes as its specialty to create distinct customer value; the fundamental building blocks of competitive advantage TERM 3
Core
Values
DEFINITION 3 A set of statements describing the type of behavior expected of the company and its employees TERM 4
Cross-Functional Planning Team
DEFINITION 4 Employees from several areas responsible fro developing the company's strategic marketing plan TERM 5
Customer Intimacy Strategy
DEFINITION 5 Strategy based on delivering value through superior empathy for customers and solutions tailored to specific customer needs
Differentiation Strategy
Strategy based on delivering customer value in a way that clearly distinguishes the product from competitors; works through effectiveness TERM 7
Distribution Channel
DEFINITION 7 A set of independent organizations involved in making th eproduct available for purchase TERM 8
Export Intermediaries
DEFINITION 8 Domestic or foreign firms with specialized experience in exporting activity TERM 9
Foreign Licensing
DEFINITION 9 Assigning the rights of patent, trademark or manufacturing process to a foreign company for a fee, often called a royalty TERM 10
Franchising
DEFINITION 10 A special type of licensing arrangement whereby the marketer provides not only the product, technology, process, and/or trademark but also the entire marketing program
Marketing
Myopia
A focus on company products rather than on how these products will benefit the consumers TERM 17
Physical Distribution
DEFINITION 17 The movement of finished products through channels of distribution to consumers TERM 18
Portfolio Planning Approach
DEFINITION 18 A technique to measure the contribution each SBU makes to the overall performance of the division or the company TERM 19
Positioning
DEFINITION 19 Creating an image or perception in the minds of consumers about the organization or its products relative to the competition TERM 20
Strategic Business Unit (SBU)
DEFINITION 20 A part of the firm that can be managed separately for marketing purpose; it may be a division, a product or product line, a distinct group of customers, or a unique technology
Strategic Direction
The desired leadership position of an organization and the measures used to chart progress toward reaching that position TERM 22
Strategic Infrastructure
DEFINITION 22 The corporate configuration that produces the company's distinctive or core competencies and provides the resources necessary to satisfy customer wants TERM 23
Strategic Marketing Plan
DEFINITION 23 The documentation describing the company's objective and how to achieve them in the light of competitive activities TERM 24
Strategic Window
DEFINITION 24 Thetime during which market needs and the competences of the firm fit together to create a significant opportunity TERM 25
Strategy
DEFINITION 25 A company's long-term plan of how to use resources for pursuing goals and objectives in competitive arenas
Value Proposition
A statement of the compelling reasons customers should select a brand TERM 32
Vision
DEFINITION 32 Statement of an organization's operation philosophy including core values, business definition, strategic direction and strategic infrastructure
