__________ is a group of consumers who respond in a similar way to a given set of marketing efforts.

Strategic planning: 

The process of developing and maintaining a strategic fit between the organization's goals and capabilities and it's changing marketing opportunities.

Mission statement: 

A statement of the organization's purpose- what it wants to accomplish in the larger environment.

Business portfolio: 

The collection of business and products that make up the company.

Portfolio analysis: 

The process by which management evaluates the products and businesses making up the company.

Growth-share matrix: 

A portfolio-planning method that evaluates a company's strategic business units in terms of their market growth rate and relative market share. SBUs are classified as stars, cash cows, question marks, or dogs.

Product/market expansion grid: 

A portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification. 

Market penetration: 

A strategy for company growth by increasing sales of current products to current market segments without changing the product.

Value chain: 

The series of departments that carry out value-creating activities to design, produce, market, deliver, and support a firm's products.

Value delivery network: 

The network made up of the company, suppliers, distributors, and ultimately customers who "partner" with each other to improve the performance of the entire system.

Marketing strategy: 

The marketing logic by which the business unit hopes to create customer value and achieve profitable customer relationships.

Market segmentation: 

Dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require separate products or marketing products. 

Market segment: 

A group of consumers who respond in a similar way to a given set of marketing efforts.

Market targeting: 

The process of evaluating each market segment's attractiveness and selecting one or more segments to enter.

Positioning: 

Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing a products in the minds of target consumers.

Differentiation: 

Actually differentiating the market offering to create superior customer value. 

Marketing mix: 

The set of controllable tactical marketing tools- product, price, place, and promotion- that the firm blends to produce the response it wants in the target market.

SWOT analysis: An overall evaluation of the company's strengths (S), weaknesses (W), opportunities (O), and threats (T).

Marketing implementation: 

The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives.

Marketing control: The process of measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are achieved.

Marketing audit: A comprehensive, systematic, independent, and periodic examination of a company's environment, objectives, strategies, and activities to determine problem areas and opportunities and to recommend a plan of action to improve the company's marketing performance.

Return on marketing investment (or marketing ROI): The net return from a marketing investment divided by the costs of the marketing investment.