Chapter 2

___ is arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers

positioning

positioning is _____ for a ____ to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers

positioning is ARRANGING for a PRODUCT to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

The mission statement is then transformed into detailed supporting ___ & ___

goals and objectives

market targeting is the process of ___ each market ____'s attractive and ____ one or more ___ to enter.

market targeting is the process of EVALUATING each market SEGMENT'S attractiveness and SELECTING one or more SEGMENTS to enter

Promotion and place are to ___ ___ Product and price are to ____ ____

Product and place are to TARGET CUSTOMERS Promotion and place are to INTENDED POSITIONING

___ ___ involves developing a strategy for long-run survival and growth

STRATEGIC PLANNING involves developing a strategy for long-run survival and growth

___ ___ sets the stage for the rest of the company's planning

STRATEGIC PLANNING sets the stage for the rest of the company's planning.

___ is the amount of money customers pay to obtain the product a) product b) price c) place d) promotion

b) price

___ includes company activities that make the product available to target consumers. a) product b) price c) place d) promotion

c) place

The first three steps in Strategic Planning are done at a ___ level while the final step is done at the ___ ___, ___, & ___ level

corporate level; business unit, product, and market level

___ refers to activities that communicate the merits of the product and persuade target customers to buy it. a) product b) price c) place d) promotion

d) promotion

The four steps of strategic planning: 1. .... 2. setting objectives and goals. 3. designing a business portfolio. 4. developing functional plans.

defining the company's mission

____ is actually differentiating the market offering to create superior customer value

differentiation

differentiation is actually integrating the company's market ____ to ____ superior customer value

differentiation is actually integrating the company's market OFFERINGS to CREATE superior customer value

What overall plan defines marketing's role in a company?

the strategic plan

Then, each business and product unit must develop ___ ___ ___ in line with the company wide plan.

then, each business and product unit must develop DETAILED MARKETING PLANS in line with the companywide plan

Put the four steps of strategic planning in order: 1) defining the company's mission 2) developing functional plans 3) designing a business portfolio 4) setting objectives and goals

1) defining the company's mission (1) 2) setting objectives and goals (4) 3) designing a business portfolio (3) 4) developing functional plans (2)

The four steps of strategic planning: 1) defining the company's mission 2) .... 3) designing a business portfolio 4) developing functional plans

2) setting objectives and goals

The four steps of strategic planning: 1) defining the company's mission 2) setting objectives and goals 3) ... 4) developing functional plans

3) designing a business portfolio

The four steps of strategic planning: 1) defining the company's mission 2) setting objectives and goals 3) designing a business portfolio 4) ....

4) developing functional plans

__ means the goods and services combination the company offers to the target market a) product b) price c) place d) promotion

a) product

The company's mission statement should be ____ and 2 more examples

market oriented.. realistic; specific; motivating; and consistent with the market environment

__ __ is dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs

market segmentation

___ ___ is the process of evaluating each market segment's attractiveness and selecting one or more segments to enter

market targeting

___ ___ is the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing market opportunities

strategic planning

strategic planning is the process of ___ and ___ a strategic ___ between the organization's ___ and capabilities and its changing ___ opportunities

strategic planning is the process of DEVELOPING and MAINTAINING a strategic FIT between the organization's GOALS and capabilities and its changing MARKET environment

The final step in strategic planning is ____ marketing and other functional strategies

the final step in strategic planning is PLANNING marketing and other functional strategies

The goals and objectives, in turn, ____ decisions about the business portfolio

the goals and objectives GUIDE decisions about the business portfolio

The four Ps are apart of the ___ ___

the marketing mix