b Flashcards
Define market segmentation by giving examples
Classification of potential customers
Identifies groups of customers, which have similar needs and demand similar products
Organisations exploit these segments by creating product differentiation strategies -this is positioning (e.g. First class, Business Class, Economy
what are market segments
A market segment is a group of people who share one or more similar characteristics.
4 key elements of the marketing mix
Product, Place, Price, Promotion
Describe the key elements of Michael Porter’s Five forces analysis with examples
Barriers to Entry Competition Power of suppliers Power of buyers Power of substitutes
quantitative
investment qualities in investment decision making
qualitative
technical qualities, like language of country, exchange rate
what does pestle stand for
political economic social technological legal environmental
what is Micheal poter
barrier to entry competition power of suppliers power of buyers power of substitutes
6 p’s for ssutianability
purpose - whats the business
perspective - whats the plan
partnership - working with who
procurement - what we need to buy (materials)
process - operation, method
presentation - reporting stakeholder earnings
6 p’s for sustainability
purpose - whats the business
perspective - whats the plan
partnership - working with who
procurement - what we need to buy (materials)
process - operation, method
presentation - reporting stakeholder earnings
CSR stand for
corporate, social responsibilities
which is regarding the society, the economics and the environment
what is stakeholder and examples of it
anyone who can be affected by the business
for example staff working, government via tax,
what is shareholder
anyone who owns stock/shares in a business
