1. Market-Oriented Strategic Planning (Chapter 4) The managerial process of developing and maintaining a viable between the organization’s objectives, skills, and resources and its market opportunities. Why Plan?

2. Market-Oriented Strategic Planning (Chapter 4) Strategic marketing plan: lays out the target markets and the value proposition that will be offered, based on an analysis of the best market _________________ Tactical marketing plan: specifies the marketing tactics, including product features, promotion, merchandising, pricing, channels, and service

3. Planning New Businesses, Downsizing Older Businesses (pp. 64-65) Intensive growth opportunities: achieve further growth within the company’s current businesses Market penetration strategy: encourage __________ customers to buy more products: new uses, sales promotion Market development strategy: find markets for its _________ products: kid’s cereal to adult cereal Product development strategy: develop products for ________ markets: Gerber (baby food) to baby vitamins Diversification strategy: develop products for _____ markets: car manufacturer to motorcycle manufacturing

4. Planning New Businesses, Downsizing Older Businesses (pp. 64-65) Integrative Growth Opportunities: build or _________ businesses that are related to the company’s current businesses Backward integration: acquiring a __________ Forward integration: acquiring a __________ Horizontal integration: acquiring a ___________

5. Planning New Businesses, Downsizing Older Businesses (pp. 64-65) Diversification Growth Opportunities: add attractive businesses unrelated to the company’s current business Downsizing Older Businesses