Bdsm Flashcards
Parts of the business model canvas
Key partners Key activities Key resources Cost structure Value proposition Customer relations Distribution channels Customer segmentation Revenue streams
Part of a market
Seller Buyer Meeting Regulations/norm Other stakeholders
Parts of the situation analysis
Macro - environment
Micro - market and industry
Company
Parts of the Macro
PESTLE Political Environmental Social and cultural Technical Legal Economical
Parts of the Micro
Market analysis - size and growth
Industry analysis - Porter’s 5 forces
Competitor analysis
Customer analysis - Segmentation and positioning
Company analysis
SWOT
Marketing Mix
Product Price Place Promotion People Process Physical evidence
Generic strategy for competitive advantage
Target: Broad or Narrow
Advantage: Low cost or Product uniqueness
Cost leadership, differiation, focus strategy (low cost, differentiation)
Product life cycle
- Product development
- Introduction
- Growth
- Maturity
- Decline
Competitive behaviour
Conflict Competition Co excistence Cooperation Collusion
Boston consulting group: Growth-Share Matrix
Market growth vs. Relative market share.
Dog, cow, question markCorport, star.
Corporate Social responsibility (triangle)
Philantropic, Ethical, Legal, Economical.
Parts of corporate social responsibility
Physical environment, Social, consumer, supply chain, employee reletions.
Consumer behavior, purchase actors
Initiator, influencer, decider, buyer, user.
Consumer decision-making process
- Need recognition
- Search for info
- Evaluation of activities
- Purchase decision
- Post-purchase evaluation
B2B factors of purchase
Few actors Often complex buying Specific requirements Prices are negotiated Choice factors: Quality, price, continuity, risk, personal likes.
Customer retention strategy
Deliver consistent service
Cross-selling, asking for referrals
Priority for increasing customer loyalty
Priority of retention
Segmentation methods
Behavioral Benefits Purchase occasion Purchase behavior Usage Perception benefits
Psychological
Lifestyle
Personality
Profile
Demographoc
Social economic
Geographic
Requirements for effective segmentation
Measurability
Accessibility
Sustainability
Actionability
Product strategies for growth (Arisoff matrix)
Existing or new: Marker, product.
Market penetration, product development.
Market development, diversification.
Risk goes up with new.
Basic product model
Core product
Actual product
Augmented product
Product mix and product line
Product mix - total set of brands marketed by a company
Product line - Group of brands closely in functions
Range - Differences in customer needs
Width - Number of product lines
Depth - Number of product variants
Product hierarchy
- Need family
- Product family
- Product class
Positioning is the choice of…
Target market: Where to compete
Differential advantage: How we compete
Addvertising goals
AIDA Attention Interest Desire Action
Types of needs
Physical
Social
Psycological
Percieved benefits of a market offer
Product benefits
Service benefits
Relational benefits
Image benefits
Periceved sacrifice of a market offer
Monetary cost
Time costs
Energy costs
Psycological costs
What is a business mission
“A broadly defined, enduring statement of purpose that distinguishes a business from others of its type
How does businessmisson, strategic vision and strategic objectives relate?
BM - Basic objectives and values.
SV - What is aimed to reach
SO - How the goals should be reached.
What is the difference between Data, information, knowledge.
Data - facts
Information - tells something
Knowledge - being able to extract meaning from the information
What is a brand
- Relationship
- Recognition
- Prejudice
- Extra value
- Safety (confidence in brand)
Price triangle
Customers - Needs and willingness to pay
Competitors - Offering, prices
Company - Offering, cost
What different distribution channels are there?
B2C
Producer - Agent - Wholesaler - Retailer - Consumer
B2B
Producer - Agent - Distributor - Business customer
Services
Service provider - Agent -C/B
What factors are there in channel strategy
Channel selection
Distribution intensity
Channel integration
Options of promotional mix
Mass marketing (ads, sales promotion, public relations) Direct marketing (Personal selling, exhibitions, digital marketing) Digital marketing (Digital promotions and social media communications)
Characteristics of services
Intangibility
Inseparability
Variability
Perishability
Porters 5 forces
Gives the attractiveness and profitability of an industry.
- Supliers
- New entrants
- Competitors
- Substitutes
- Customers
kano model
Kano model
What are the sources of competitive advantage?
Better quality
Faster response to needs
Closer relationship
(Cheaper)
Business model over time
Research for initial BM
Start a business and adapt to the market.
Scale the BM
A good strategic positioning:
Clarity
Consistency
Competitive
Credible
Parts of a market-oriented pricing
Costs Competitors Customer value Effect on distributors/retailers Marketing strategy
Focus of market mix for service
People
Process
Physical evidence
Customer retention
Target good retention customers Bonding with the customers Internal marketing Fulfill promises Solve problems
