B207

B207

1. Innovation

   • Leads to better quality products
   • Short Term - clear on aims - quick profit
     • Medium Term - Relaunch/recreation of a product - greater risk
       • Long Term - New vision risk and reward greater.

2. Relationships

   • Strong relationships with consumers can lead to product/service innovation
   • establishing and growing customer relationships for a profit
   • Long term relationships = the goal = less price sensitivity
   • 1. both acknowledging this relationship
     • 2. Special Status

3. Shared Value

   • Porter - using capitalism to create societal change
   • benefits both the business and consumer
   • -Product, Value , Cluster
   • Differs from CSR
     • Nor about just giving or being "fair-trade"
       • Giving people the capital/tools to create profit

4. Quality

   • Business with good quality service/product last longer
   • bad quality - bad reputation and relationships with consumers
   • meeting or exceeding customer expectations
   • whole organisation not just 1 department
   • 7 control methods