D174 Marketing Management WGU
Study online at https://quizlet.com/_9qf3sb
1. Sustainability balancing business needs and social needs over the long term and doing the right
thing.
2. Triple Bottom recognition of the need for organizations to improve the state of people, the
Line planet, and profit simultaneously if they are to achieve sustainable, long-term
growth
3. one-to-one mar- an individualized marketing method that utilizes customer information to build
keting long-term, personalized, and profitable relationships with each customer
4. relationship ori- driven by the realization that it is far more efficient and effective to invest in
entation keeping and cultivating profitable current customers instead of constantly having
to invest in gaining new customers that come with unknown ROI
5. customer orien- a company objective based on the premise that the firm should measure itself
tation primarily according to whether it meets its customers' needs
6. differentiation What clearly distinguishes your products from those of competitors in the minds
orientation of customers.
-Communicating and delivering value in different ways to different customer
groups
7. Market Orienta- business focuses on the market; responds to customer's needs & wants
tion
8. Product Orienta- business focues on the product; develops goods based on what it's good at doing
tion
9. marketing ethics societal & professional standard of right & fair practices that are expected of
marketing managers in their oversight of strategy formulation, implementation,
and control
10. Form Utility created by marketing when raw materials are transformed into a final product to
meet a market need
, D174 Marketing Management WGU
Study online at https://quizlet.com/_9qf3sb
11. Time Utility created by marketing when a product available when needed or desired
12. Ownership Utility created by marketing when a product is exchanged with customer
13. place utility created by marketing when product is available at a convenient location
14. value proposition the whole bundle of benefits a company promises to deliver to the customer, not
just the benefits of the product itself.
15. Porter's Value 1. Firm's Infrastructure (accounting, finance, management)
Chain Model- 2. Human Resources Management
Support Activi- 3. Product & Technology Development (R&D)
ties 4. Procurement
16. Porter's Value 1. Inbound logistics (inputs)
Chain Model- 2. Operations (manufacturing and testing)
Primary Activities 3. Outbound logistics (storage and distribution)
4. Marketing and sales
5. After-sales service
17. Marketing Plan- 1. marketing plan must be connected to firm's business plan
ning 2. situational analysis - SWOT
3. Perform any needed market research
4. Establish marketing goals & objectives
5. Develop marketing strategies
6. Develop implementation plans
7. Provide for contingency planning
18. market-driven The process at the corporate or strategic business unit (SBU) level of a firm that
strategic acts to marshal the various resource and functional areas toward a central purpose
planning around the customer.
19.
, D174 Marketing Management WGU
Study online at https://quizlet.com/_9qf3sb
Strategic Busi- a relatively autonomous division or organizational unit of a large company that
ness Unit (SBU) operates independently but within the corporate umbrella, exercising control over
most of the factors affecting its long-term performance.
20. BCG Matrix: Stars High growth/High Postition
-important to building the future of the business
-deserving any needed investment
-Will eventually become a cash cow
21. BCG Matrix: Cash Low growth/high position
Cows key source of internal cash generation for the firm
22. BCG Matrix: Dogs low growth/low position
potential high cash users & prime candidates for liquidation
23. BCG Matrix: high growth/low position
?/Problem Child high cash needs that, if nurtured properly, can convert into stars
24. GE Business A method of evaluating businesses along two dimensions: (1) industry attractive-
Screen ness and (2) competitive position; in general, the more attractive the industry and
the more competitive the position, the more an organization should invest in a
business
25. cost leadership lower cost
strategy broad target
26. cost-focus strate- lower cost
gy narrow target
27. differentiation differentiated
strategy broad target
28. focused differen- differentiated
tiation strategy narrow target
, D174 Marketing Management WGU
Study online at https://quizlet.com/_9qf3sb
29. Prospector (Miles firm exhibits continual innovation by finding & exploiting new product & market
and Snow) opportunities
30. Analyzer (Miles Firm heavily relies on analysis and imitation of the successes of other organiza-
and Snow) tions, especially prospectors.
31. Defender (Miles firm searches for market stability & production of only a limited product line
and Snow) directed at a narrow market segment, focusing on protecting established turf
32. Reactor (Miles firm lacks any coherent strategic plan or apparent means of effectively competing;
and Snow) they do well to merely survive in the competitive marketplace
33. generic business overall strategic direction that includes growth, stability, and retrenchment
strategy
34. competitive use of a firm's core competencies or strengths
strategic options
35. SWOT analysis strengths, weaknesses, opportunities, threats
36. core competen- those functions that the organization can do exceedingly well
cies
37. sustainable com- resulting advantage a firm has when it invests in distinctive competencies.
petitive advan-
tage
38. first-mover ad- occurs when a company can significantly increase its market share by being first
vantage with a new competitive advantage
39. second mover Corporate level strategy theorizing that closely observing the innovations of the
strategy first movers, and then improving on them can help an organization gain advan-
tage in the marketplace.
Study online at https://quizlet.com/_9qf3sb
1. Sustainability balancing business needs and social needs over the long term and doing the right
thing.
2. Triple Bottom recognition of the need for organizations to improve the state of people, the
Line planet, and profit simultaneously if they are to achieve sustainable, long-term
growth
3. one-to-one mar- an individualized marketing method that utilizes customer information to build
keting long-term, personalized, and profitable relationships with each customer
4. relationship ori- driven by the realization that it is far more efficient and effective to invest in
entation keeping and cultivating profitable current customers instead of constantly having
to invest in gaining new customers that come with unknown ROI
5. customer orien- a company objective based on the premise that the firm should measure itself
tation primarily according to whether it meets its customers' needs
6. differentiation What clearly distinguishes your products from those of competitors in the minds
orientation of customers.
-Communicating and delivering value in different ways to different customer
groups
7. Market Orienta- business focuses on the market; responds to customer's needs & wants
tion
8. Product Orienta- business focues on the product; develops goods based on what it's good at doing
tion
9. marketing ethics societal & professional standard of right & fair practices that are expected of
marketing managers in their oversight of strategy formulation, implementation,
and control
10. Form Utility created by marketing when raw materials are transformed into a final product to
meet a market need
, D174 Marketing Management WGU
Study online at https://quizlet.com/_9qf3sb
11. Time Utility created by marketing when a product available when needed or desired
12. Ownership Utility created by marketing when a product is exchanged with customer
13. place utility created by marketing when product is available at a convenient location
14. value proposition the whole bundle of benefits a company promises to deliver to the customer, not
just the benefits of the product itself.
15. Porter's Value 1. Firm's Infrastructure (accounting, finance, management)
Chain Model- 2. Human Resources Management
Support Activi- 3. Product & Technology Development (R&D)
ties 4. Procurement
16. Porter's Value 1. Inbound logistics (inputs)
Chain Model- 2. Operations (manufacturing and testing)
Primary Activities 3. Outbound logistics (storage and distribution)
4. Marketing and sales
5. After-sales service
17. Marketing Plan- 1. marketing plan must be connected to firm's business plan
ning 2. situational analysis - SWOT
3. Perform any needed market research
4. Establish marketing goals & objectives
5. Develop marketing strategies
6. Develop implementation plans
7. Provide for contingency planning
18. market-driven The process at the corporate or strategic business unit (SBU) level of a firm that
strategic acts to marshal the various resource and functional areas toward a central purpose
planning around the customer.
19.
, D174 Marketing Management WGU
Study online at https://quizlet.com/_9qf3sb
Strategic Busi- a relatively autonomous division or organizational unit of a large company that
ness Unit (SBU) operates independently but within the corporate umbrella, exercising control over
most of the factors affecting its long-term performance.
20. BCG Matrix: Stars High growth/High Postition
-important to building the future of the business
-deserving any needed investment
-Will eventually become a cash cow
21. BCG Matrix: Cash Low growth/high position
Cows key source of internal cash generation for the firm
22. BCG Matrix: Dogs low growth/low position
potential high cash users & prime candidates for liquidation
23. BCG Matrix: high growth/low position
?/Problem Child high cash needs that, if nurtured properly, can convert into stars
24. GE Business A method of evaluating businesses along two dimensions: (1) industry attractive-
Screen ness and (2) competitive position; in general, the more attractive the industry and
the more competitive the position, the more an organization should invest in a
business
25. cost leadership lower cost
strategy broad target
26. cost-focus strate- lower cost
gy narrow target
27. differentiation differentiated
strategy broad target
28. focused differen- differentiated
tiation strategy narrow target
, D174 Marketing Management WGU
Study online at https://quizlet.com/_9qf3sb
29. Prospector (Miles firm exhibits continual innovation by finding & exploiting new product & market
and Snow) opportunities
30. Analyzer (Miles Firm heavily relies on analysis and imitation of the successes of other organiza-
and Snow) tions, especially prospectors.
31. Defender (Miles firm searches for market stability & production of only a limited product line
and Snow) directed at a narrow market segment, focusing on protecting established turf
32. Reactor (Miles firm lacks any coherent strategic plan or apparent means of effectively competing;
and Snow) they do well to merely survive in the competitive marketplace
33. generic business overall strategic direction that includes growth, stability, and retrenchment
strategy
34. competitive use of a firm's core competencies or strengths
strategic options
35. SWOT analysis strengths, weaknesses, opportunities, threats
36. core competen- those functions that the organization can do exceedingly well
cies
37. sustainable com- resulting advantage a firm has when it invests in distinctive competencies.
petitive advan-
tage
38. first-mover ad- occurs when a company can significantly increase its market share by being first
vantage with a new competitive advantage
39. second mover Corporate level strategy theorizing that closely observing the innovations of the
strategy first movers, and then improving on them can help an organization gain advan-
tage in the marketplace.
