BIOC 3560 Lecture Notes - Lecture 1: Marketing Mix, Computer Monitor, Marketing Plan
5 Nov 2017
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Document Summary
Competitors: asses who competitors are and how they are behaving to respond with competitive strategies, including how they differentiate themselves from such competitors. Business portfolio analysis: uses quantified performance measures and growth targets to analyze a firm"s business units (called strategic business units sbus) as though they were a collection of separate investments. Once the sbu is classified: the company could invest more in the sbu to build its share. It can harvest the sbu, milking it for short-term revenue. Market-product analysis: alternative to business portfolio analysis, favoured by many marketers. For any product, there is a current and new market. Marketing dashboard: the visual computer display of the essential information related to achieving a marketing objective. Marketing metric: a measure of the quantitative value or trend of a marketing activity or result. Strategic marketing process: process whereby an organization allocates its marketing mix resources to reach its target market.
