Additional

Question 1

What are the Axis of the BCG Matrix?

Answer 1

1) Market Growth

2) Market Share

Question 2

Porter’s value chain Definition

Answer 2

Porter’s value chain examines how the business can gain a competitive advantage by breaking it down into primary and support activities and looking for cost and/or quality advantages over competitors

Question 3

What are the primary activities of Porter’s value chain? (5)

Answer 3

1) Inbound logistics
2) Operations
3) Outbound logistics
4) Sales and Marketing
5) Service

Question 4

What are the secondary activities or porter’s value chain? (4)

Answer 4

1) Firm Infrastructure
2) Human recourse management
3) Technology development
4) Procurement

Question 5

3 compndent of a marketing strategy?

Answer 5

1) Analysis - Market research
2) Choice - Use of market segment to identify which customers to supply
3) Implementation - Develop an appropriate marketing mix using the 4P and 7Ps

Question 6

What is structural inertia?

Answer 6

Imbedded systems are hard to change

Question 7

What is group inerita?

Answer 7

Impact on group behavior norms

Question 8

In Lewin’s iceberg model what does ‘Unfreeze’ mean? (4)

Answer 8

1) Communication
2) Education
3) Participation
4) Negotiation

Question 9

In Lewin’s Iceberg model what does ‘Move’ mean? (4)

Answer 9

1) Training
2) Organizational structure
3) Installation of equipment
4) Introduce new contracts

Question 10

In Lewin’s Iceberg model what does ‘Re-freeze’ mean? (4)

Answer 10

1) Reinforce changes
2) Communicate successes
3) Promote benefits
4) Reward conformity