MKT 361

Page 60 1. Strategic planning is the process of developing and maitaining a strategic fit between the organizations goals and capabilities and its changing marketing opportunities. The four step of the Strategic planning:

Defining the company mission Setting company objectives and goals designing the business portfolio planning marketing and other functional stategies (Business unit, product and market level) 3. Product/market expansion grid is a tool for identifying company growth opportunities through market penetration, market development, product development, or diversification. KFC is now rolling out a new Kentucky Grilled chicken line to add to its traditional fried chicken line up. The growth strategy in this represent is product development. 4. The differences between market segmentation, targing and positioning: Market segmentation is a group of consumers who respond in a similar way to a given set of marketing efforts, while market targeting is the process of evaluating each market segmentss attractiveness and selecting one or more segments to enter. Market positioning is the arrange for a product to occupy a clear, distanctive, and desirable place relative to competing products in the minds of the target consumer. 5. Marketing mix is the set of controllable tactical marketing tools: product, price, place and promotion.

Page 32 1. Marketing is a process by which companies create value for customers and build strong customers and build strong relationships to capture value from customers in return. Primary goal is promote their products, services and improves. 3. A company designs a customers-driven marketing strategy: - Selecting customers to serve - Choosing a value proposition - Marketing management orientations (production concept, product concept, selling concept, marketing concept, societal concept)

5. Share of customer is the portion of the customers purchasing that a company gets in its product categories. Customer equity is the total combined customer lifetime values of all of the companys customers, maybe this concept suggest the future.

Tran Mai Phuong