BST - Analysis Flashcards
What is the purpose of internal analysis and what are the three examples?
Assess strengths and weaknesses:
- CSFs
- Value Chain
- BCG matrix/Plc
What comes under the umbrella of a company’s mission?
- Purpose
- Strategy
- Policies
- Values
What does SMART stand for and what is the purpose?
To assess whether an objective is a good one:
- Specific
- Measurable
- Achievable
- Relevant
- Time bound
Key indicators that an organisation is not-for-profit?
- Do not intend to maximise wealth to target stakeholder
- Benefits may be intangible and hard to measure
- May have multiple objectives
- Diverse range of stakeholders
Mendelow’s matrix - purpose and how to do it
To assess stakeholders and how to manage them
What is PESTEL analysis and expand the acronym?
To identify macro opportunities and threats:
Political
Economic
Social
Technological
Environmental
Legal
What is Porter’s diamond?
Porter’s diamond identifies why particular nations enjoy sustained competitive advantage in particular products
What is the aim of Porter’s five forces and what type of analysis does it present?
External analysis - the model analyses threats within the industry environment
What are Kay’s core competencies?
It considers the internal, external and wider landscape for the following:
- Reputation
- Competitive architecture
- Innovative ability
What are the 5 phases of the product life cycle?
Development, introduction, growth, maturity and decline
What are Porter’s three generic sustainable competitive strategies?
- Cost leadership
- Differentiation
- Focus/niche
According to Ansoff’s matrix how do you grow existing products in existing or new markets?
Existing:
- Price cuts
- Effective marketing
- Small product improvements
New:
- New segmentation
- Industrial v consumer market?
- New regions of the country
- Foreign markets
According to Ansoff’s matrix how do you grow new products in existing or new markets?
Existing markets:
- R&D
- Acquire rights to make another firm’s products
- Buy products and re-label
- Joint developments
New:
- Related diversification (think Samsung)
- Unrelated diversification (think Yamaha)
What are the three types of related diversification?
Forward vertical - move towards the customer
Horizontal
Backward - move into the supply chain
Stages of marketing strategy
Analysis (research)
Choice (market segmentation)
Implementation (using a marketing mix)
