Kotler 2020, 2 kap om Company and marketing strategy

A statement of the organization's purpose that outlines its goals and objectives in the broader environment.

Mission statements should prioritize satisfying customer needs over product or technology focus.

A well-crafted mission statement guides decision-making and contributes to better organizational performance.

Companies that continually analyze their mission and adapt to changing market needs are more likely to succeed.

Understanding consumer values and what they prioritize is key to creating successful products and services.

Delivering more value than competitors through a combination of factors like product quality, price, and customer experience.

Examples of companies that have achieved success through a unique combination of strong design, logistics, marketing, and customer relationships.

Basic needs that are fundamental to human existence and are often fulfilled by various products and services.

Analyzing a company's current portfolio of businesses to identify which ones should receive more, less, or no investment.

A company division, a product line, or even a single product or brand that represents a distinct business within a company.

A tool used in strategic planning to assess the attractiveness of a market or industry and the strength of a company's position within it.

A model used to classify a company's SBUs based on market growth rate and relative market share. It identifies four categories: Stars, Cash Cows, Question Marks, and Dogs.

SBUs with a high market share in a high growth market.

SBUs with a high market share in a low growth market.

SBUs with a low market share in a high growth market.

SBUs with a low market share in a low growth market.

A strategy where a company expands into new markets with existing products.

A strategy for growth by offering revised or completely new products to current customers.

This strategy involves a company branching out into entirely new markets and product categories.

A tool used to identify growth opportunities by considering existing and new products and markets.

This expansion strategy might target specific customer groups, like seniors or younger generations, to try new products or services.

Expanding into new geographic regions or areas within existing markets.

Reasons for a company to downsize operations, such as fluctuating market conditions, rapid growth, or lack of expertise in certain areas.

This occurs when a company abandons specific products or markets that are no longer profitable.

A marketing strategy that focuses on building long-term relationships with customers, aiming to create value for both the company and the customer.

A marketing strategy that emphasizes short-term transactions and maximizing sales, often through attractive offers and low prices.

The process of integrating various aspects of marketing into a cohesive strategy, including product, price, distribution, and promotion.

The adoption of digital technologies in business operations, potentially impacting customer relationships and the relevance of traditional marketing approaches.

The set of actions a company takes to create and manage its products, including design, development, and pricing.

The process of determining pricing strategies, considering factors like cost, competition, and customer value.

The channels through which products reach customers, encompassing aspects like distribution, logistics, and retail networks.

The communication strategies used to promote a product or service, including advertising, public relations, content marketing, and social media.

A strategic approach where a company adapts its marketing mix to specific local markets, taking into account cultural differences, consumer preferences, and legal regulations.

The process of dividing a market into distinct groups of consumers with similar needs, characteristics, or behaviors. This helps companies target their marketing efforts more effectively.

A tool used to evaluate a company's strengths, weaknesses, opportunities, and threats. It is a critical first step in planning and making strategic decisions.

Understanding the complete picture behind financial reports and recognizing the need for deep expertise in specific industries.

A sharp sense or intuition about a situation, often based on experience and knowledge.

The increasing difficulty in finding exceptional investment opportunities due to greater transparency and competition.

A shift from focusing solely on the product itself to considering its impact on profitability over its entire lifespan.

The ability to understand and leverage global trends while having in-depth knowledge of local markets and specific industries.

The practice of strategically investing marketing resources based on measurable returns.

The growing importance of measuring marketing effectiveness and demonstrating its financial impact.

The challenge of measuring the effectiveness of broad marketing campaigns, particularly those reaching large audiences.