Stanley J. Shapiro
Kenneth B. Wong,
Queens School of Business
William D. Perreault,
University of North Carolina
E. Jerome McCarthy,
Michigan State University
| Advertising | Any paid form of non-personal presentation of ideas, goods, or services by an identified sponsor.
(See Refer to page(s) 37, 420)
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| Breakthrough opportunities | Opportunities that help innovators develop hard-to-copy marketing strategies that will be very profitable for a long time.
(See Refer to page(s) 47)
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| Channel of distribution | Any series of firms or individuals who participate in the flow of products from producer to final user or consumer.
(See Refer to page(s) 36, 319)
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| Competitive advantage | A firm has a marketing mix that the target market sees as better than a competitor's mix.
(See Refer to page(s) 47)
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| Diversification | Moving into totally different lines of business-perhaps entirely unfamiliar products, markets, or even levels in the production/marketing system.
(See Refer to page(s) 50)
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| Implementation | Putting marketing plans ino operation.
(See Refer to page(s) 41)
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| Market development | Trying to increase sales by selling present products in new markets.
(See Refer to page(s) 50)
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| Market penetration | Trying to increase sales of a firm's present products in its present markets, probably through a more aggressive marketing mix.
(See Refer to page(s) 49)
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| Marketing management process | The process of (1) planning marketing activities, (2) directing the implementation of the plans, and (3) controlling these plans.
(See Refer to page(s) 30)
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| Marketing mix | The controllable variables that the company puts together to satisfy a target group.
(See Refer to page(s) 32)
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| Marketing plan | A written statement of a marketing strategy and the time-related details for carrying out the strategy.
(See Refer to page(s) 39)
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| Marketing program | Blends all of the firm's marketing plans into one big plan.
(See Refer to page(s) 42)
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| Marketing strategy | Specifies a target market and a related marketing mix.
(See Refer to page(s) 32)
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| Mass marketing | The typical production-oriented approach that aims vaguely at everyone with the same marketing mix.
(See Refer to page(s) 33)
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| Mass selling | Communicating with large numbers of potential customers at the same time.
(See Refer to page(s) 37, 420)
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| Operational decisions | Short-run decisions to help implement strategies.
(See Refer to page(s) 41)
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| Personal selling | Direct spoken communication between sellers and potential customers, usually in person but sometimes over the telephone.
(See Refer to page(s) 37, 420)
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| Portfolio management | Treats alternative products, divisions, or strategic business units (SBUs) as though they are share investments to be bought and sold using financial criteria.
(See Refer to page(s) 55)
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| Product development | Offering new or improved products for present markets.
(See Refer to page(s) 50)
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| Publicity | Any unpaid form of non-personal presentation of ideas, goods, or services.
(See Refer to page(s) 37, 420)
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| Sales promotion | Promotion activities (excluding advertising, publicity, and personal selling) that stimulate interest, trial, or purchase by final customers or others in the channel.
(See Refer to page(s) 37, 421, 483)
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| Strategic (management) planning | The managerial process of developing and maintaining a match between an organization's resources and its market opportunities.
(See Refer to page(s) 31)
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| Strategic business unit (SBU) | An organizational unit (within a larger company) that focuses its efforts on some product-markets and is treated as a separate profit centre.
(See Refer to page(s) 55)
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| Target market | A fairly homogeneous (similar) group of customers to whom a company wishes to appeal.
(See Refer to page(s) 32)
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| Target marketing | A marketing mix is tailored to fit some specific target customers.
(See Refer to page(s) 33)
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2002 McGraw-Hill Higher Education