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Marketing Basics - Kotler Philip

Key Concepts in Chapter 17

Analysis of sales opportunities - measurements and evaluation of indicators of actual sales in comparison with planned.

Opportunities for diversification growth - growth opportunities that open up outside the firm's industry.

Opportunities for integration growth - opportunities for growth through the integration of the company with other elements of the marketing system of the industry.

Opportunities for intensive growth - opportunities for growth within the current scope of the company.

Deep market penetration - finding a way for a company to increase sales in existing markets through more aggressive marketing.

Horizontal diversification - replenishment of the assortment of the company with new products that are not related to the currently manufactured products, but which may cause the interest of the existing clientele.

Horizontal integration - the acquisition by the company of ownership or placing under more stringent control on its part of a number of competing enterprises.

Conglomerate diversification - replenishment of the assortment with products that have no relation either to the technology used by the company, or to its current products and markets.

Control - measurements and analysis of the results of the implementation of strategic plans and marketing plans and the adoption of corrective actions.

Concentric diversification - replenishment of the assortment with new products that, from a technical and / or marketing point of view, are similar to the existing products of the company.

A firm’s marketing opportunity is an attractive area of ​​marketing efforts where a particular firm can achieve a competitive advantage.

Danger - a complication arising from an adverse trend or a specific event, which - in the absence of targeted marketing efforts - can lead to undermining the survivability of the product or its death.

Planning - a formal procedure aimed at increasing sales and profits of the company and consisting of two parts - strategic planning and marketing planning.

Progressive integration - the acquisition by the company in the possession or placing under more tight control of its distribution system.

Expanding the boundaries of the market - the company's attempts to increase sales by introducing existing products into new markets.

Marketing audit - a comprehensive, systematic, impartial and regular study of the marketing environment, tasks, strategies and operational activities of the company in order to identify emerging problems and emerging opportunities and provide recommendations on an action plan to improve the marketing activities of the company.

Regressive integration - the acquisition by the company in the possession or placing under more stringent control of its supply system.

Product improvement is the company's activity to increase sales by creating new or improved products for its current markets.

Strategic planning is the management process of creating and maintaining strategic alignment between the goals of the company, its potential opportunities and chances in the field of marketing.

Marketing strategy is a rational logical construction, guided by which the organization expects to solve its marketing problems and which includes specific strategies for target markets, the marketing mix and the level of marketing costs.

The function of the sales reaction is the forecast of the probable volume of sales over a certain period of time at different cost levels for one or more elements of the marketing mix.