Flashcards
MNM3709
Flashcards do conjunto (16)
- 1What are the 5 P's of Strategy* Plan
* Ploy - a short-term strategy with limited objectives
* Pattern - Consistent behaviour taking place
* Position - Looks downward at customer needs and outward at external competitive market
* Perspective - Refers to the organisation's way of doing things and is called the interviewer or experience. - 2What are the three types of strategy levels?* Corporate strategy - a sense of purpose, the future is spelt out and resources are utilised to the max.
* Business strategy - Focused on a Business unit to best reach the overall objectives.
* Functional Strategy - how each functional division can support the overall business level strategy. - 3Name the three types of Customer Research* Exploratory - Qualitative Research
* Descriptive - Quantitative Research ( Surveys and observations)
* Casual - Experiments - 4Name the five basis of customer segmentation* Geographic - Region
* Demographic - Age, occupation, etc
* Psychographic - Lifestyle, interests, opinions
* Behavioural - Benefits needed from the product such as convenience, status, etc
* Benefits sought - How they use it, heavy or light users, brand loyal or brand switchers - 5What are the 8 sources of Sustainable Competitive Advantage?* Relational Sources - Relationships between brand loyal customers and long-term suppliers
* Legal Sources - Patents, trademarks, etc
* Organisational Sources - Gained from financial resouces, modern plant and equipment, etc
* Human Resource Sources - Superior Managment talent, skilled labour, strong organisational culture, etc
* Product Sources - Brand name, production expertice, guarantees and warranties, etc
* Pricing Sources - Lower production cost, economies of scale, bulk buying, etc
* Promotion Sources - Company image, larger promotional budgets, creativity, etc
* Distribution Sources - Real-time inventory control, extensive supply chain integration, convenient location? - 6What are the 3 characteristics of External (Macro) Environment (page16)* The ever-changing nature of the external environment
* The impact of external forces on the external environment
* The overwhelming state of external variables - 7What are the 6 dimensions of the external( Macro) environment that needs to be monitored constantly* Technological environment
* The Government or legal dimensions
* Economic Environment
* Social/cultural dimensions
* Demographic Dimensions
*International Dimensions - 8Name the three methods of Environmental scanning used to forecast environmental trendts and events.* Adhoc or irregular approach
* Periodic or regular approach
* Continuous method - 9Technological changes are inevitable and therefore, the marketing planner needs to pay attention to which areas?* Accelerating pace of technological change
* Unlimited innovation opportunities
* Higher research and development budgets
* In some industries, a concentration of effort on minor product improvements
* Greater emphasis on the regulations of technological changes. - 10What are the 5 Competitive Forces according to Porters Model?* Treat of New Entrants
* Treat of Substitutes
* The Bargaining power of Suppliers
* The Bargaining power of Buyers
* Rivalry between direct competitors - 11The threat of New Entrants depends on what? (8) Porter 5 Competitive Forces* Economies of Scale
* Cost Advantages
* High Switching Cost
* Limited access to Distribution Channel
* Government Policy
* Product Differentiation
* Strong Brand Identity
* Likelihood of retaliation from existing industry players - 12The threat of Substitutes depends on what? (5) Porter 5 Competitive Forces* Buyers willingness to use substitutes
* Relative Prices and performance of substitutes
* Advantages offered by substitutes
* Costs of switching to substitutes
* Image of substitutes - 13What are the 7 dimensions of a Market Analysis* Actual and potential market size
* Market growth
* Market Profitability
* Cost Structure
* Distribution System
* Trends and Development
* Key success factors - 14What are the 5 models of Portfolio Analysis* The growth-share matrix
* The market attractiveness -enterprise strength model
* The Risk Matrix
* Porter's Generic Strategy Model - 15Explain the growth-share matrix as part of the 5 models of Portfolio AnalysisThis matrix is used to establish the best mix of small business units or product or market units in terms of their cash flow behaviour.
The matrix is defined by the market growth rate and the products relative market shares.
The four different product classes that can be distinguished within the matrix are:
- Stars - SBU with high market growth, a high relative market share and a small positive or negative cash flow. They generate large amounts of cash, which is offset against the input needed to maintain their position
- Cash cows - low market growth, high relative market share and large positive cash flow. They have a return on assets that exceed their growth rate.
- Problem children/question marks - High market growth, low relative market share, and small positive or negative cash flow. Because of the market growth rate, these products require more cash than they can generate by themselves
- Dogs - Low market growth, low market share, small positive or negative cash flow. Poor competitive position condemns them to poor profits and requires more management than they are worth. - 16Explain the Market Attractiveness-enterprise strength model as part of the 5 models of Portfolio AnalysisIt consists of a market grid and is based on the value of return.
The grid is bound by two variables:
- market attractiveness on the horizontal axis and organisation strength on the vertical axis
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- Business/Economics FlashCards sobre MNM3709, criado por Marinda Steenkamp em 24-08-2018.
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- Marinda Steenkamp
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