Marketing Terms

2. growth occurring when current products and current markets have the potential for increasing sales
4. competitive advantages or core competencies that give a firm an advantage in meeting the needs of its target markets
5. a long-term view of what the organization wants to become
6. The process of establishing an organization mission and formulating goals, corporate strategy, marketing objectives, marketing strategy, and marketing plan
7. the process of assessing opportunities and resources, determining objectives, defining strategies, and establishing guidelines for implementation and control of the marketing program
9. a group of individuals and/or organizations that have needs for products in a product class and have the ability, willingness, and authority to purchases those products
10. A strategy for identifying and analyzing a target market and developing a marketing mix to meet the needs of that market
11. the result of a company's matching a core competency to opportunities in the marketplace
16. a strategy that determines the means for utilizing resources in the various functional areas to reach the organization's goals
19. the percentage of a market that actually buys a specific product from a particular company
20. Things a firm does extremely well, which sometimes give it an advantage over its competition

1. growth occurring when new products are developed to be sold in new markets
3. conditions or barriers that may prevent a firm from reaching its objectives
6. a division, product line, or other profit center within a parent company
7. a statement of what is to be accomplished through marketing activities
8. A temporary period of optimal fit between the key requirements of a market and a firm's capabilities
12. A combination of circumstances and timing that permits an organization to take action to reach a target market
13. any limitations a company faces in developing or implementing a marketing strategy
14. A written document that specifies the activities to be performed to implement and control and organization's marketing activities
15. a strategic planning tool based on the philosophy that a product's market growth rate and market share are important in determining marketing strategy
17. favorable conditions in the environment that could produce rewards for an organization if acted on properly
18. assessment of an organization's strengths, weakness, opportunities, and threats