Case Study and how to solve it Flashcards
What does the value creation of the company look like?
Value Chain:
Information
(How do they provide information about their value creation?)
Booking
(Websites, Hotline, etc.)
Transport for arrival
(How do the customers arrive, public transportation, parkin facility etc.?)
Attractions/ activities/ touristic offers
(Original offers like natural offers, socio-cultural offers (culture, tradition etc.) or general infrastructure or derived offers like accomodations gastronomy or leisure infrastructure or specific touristic offers)
Transport within the destination
Gastronomy
Accommodations
Transport for depart
==> Here it’s important that with every step there is value added
Which of the general company goals are relevant for the business processes of the firm?
Examples for general company goals:
Generating added value, producing profit, increasing the market share, improving the brand image, increasing the popularity of the brand
etc.
From the perspective of…
- … a profit-oriented, short-term investor (e.g. shareholder
==> producing profit, high dividends, possibly good reputation, big market shres
- … a representative of the government of the region
==> excellent brand image, lots and safe jobs, big revenues ( for tax income), sustainable development - … a customer
==> good quality of the services, cheap prices, wide offers
To which Value configuration does the company correspond?
- Layer Player Model
(Focuses on one layer of the value chain e.g. PayPal) - Market Maker Model
(A company that created a platform or marketplace that connects buyers and sellers like eBay, Uber or Airbnb) - Integrated Model
(A company controls multiple parts of the value chain from production to distribution to maintain quality and efficiency like Tesla, Apple or IKEA) - Orchestral Model
(A company coordinates a network of partners to deliver value, without necessarily owning the assets or executing all functions directly like Visa or Waymo)
List at least six social mega trends and deduce relevant demand trends.
General megatrends and corresponding demand trend:
- Multi-optoinal offers
==> varied offer of main and secondary services
- Soft individualism
==> Costumization and personalized products and services, authenticity and storytelling, community-based individualism (individual recognition while being connected to like-minded groups) - Authenticity and emotionality
==> Nostalgic experiences - Demographic change
==> Offers for generation 50+ and active seniors who tend to have a higher willingness to spend - Time competition
==> Time-efficient offers (information, purchase and usage process) - Convenience
==> Efficient buying/booking options, CRM and information system
Assess opportunities and threats of the company.
A table with 3 columns:
Demand trend - Opportunity <–> Risk - Explanation of assessment
Demand trend:
E.g. varied offers, offers for generation 50+, time-efficient offers
Opportunity <–> Risk:
Assess this by plaxing an x on the vector scale
Explanation of assessment
Choose three competitor that offer similar products and aim the same target markets and collect information relevant to their offer.
Table with first column Offer dimension and then second column of your company, further ones are the competition.
In the offer dimension write characteristics (like accessibility from main market, price etc.) and compare these with competition.
Deduce a list of six criteria for a strength/weakness analysis (competition analysis) for the trends and the general demands of customers
Table with first column “Criterion/concrete benchmark” and second column explanation of choice of criterion.
Criterion are criteria like price, and other quantities/qualities of your offers.
Assess the strengths and weaknesses of the Company compared to the competitors.
A table with three columns: Criterion, Strength <–> weakness, explanation of assessment
Criterion:
Criteria like price and other offers your company has, which are comparable to competition
Strength <–> weakness:
An vector (arrow on both sides of the line) where you assess the strengths and weaknesses of your company vs your competitors. Choose for example different colors and place your competitiors and your company on the vector.
Identify the crucial unique selling propositions (USP) and the achilles heels/problem area for your company.
A square with left side from top to bottom strengths, weaknesses and bottom line with left to right threats, opportunities.
The left bottom corner are the achilles heels, the right top corner are the USPs.
==> Combine the threats and the weaknesses and the opportunities and the strengths.
Assess the applicability of the three most important forms of segmentation for your company based on the segmentation requirements criteria.
Table on the left side are segmentation requirements and on top are segmention approaches and columns with socio-demographically, geographically and psychographically.
Segmentation requirements are the first column.
1. Relevance for purchase behavior
2. Significance for the application of marketing tools
3. Measurability
4. Accessibility
5. Temporal stability
6. Profitability
Segmentation approaches are on top with second column after requirements being socio-demographically, 3rd geographically 4th psychographically.
Assess applicability of forms of segmentation with very good, good, moderate and not applicable.
Develop a suggestion for a market segmentation.
Choose between socio-demographically, geographically or psychographically.
Write market on the left side and list the segmentations on the right side next to it and connect it with lines.
Choose the most attractive target market for the company based on relevant criteria.
Table with 4 columns:
Relevant criteria, assessment of attractiveness of first target market, assessment of attractiveness of second target market, assessment of attractiveness of third target market.
The relevant criteria are:
Market capacity
Market potential
Market volume
Market share
Market cultivation costs
Strategic relevance
Assess the target markets with + (increasing), - (decreasing), 0 (average)
Write a positioning statement of the Company.
Express it verbally and through a diagram of a two-dimensional positioning matrix. Also include the competitors.
Choose one USP and write opportunity as y-axis and strength as x-axis, position your company at the right upper corner and the competitors according to their competencies.
In the positioning in text form mention their strengths and target group
Suggest concrete measures for customer processes (customer acquisition, customer retention, customer development) for working on the target market chosen.
Table with three columns. Choose measures according to the 4 P’s.
- Category 1
(Measures for customer acquisition)
==> E.g. Cheaper prices for special days of the week/customer groups (Price) - Category 2:
(Measures for customer retention)
==> E.g. Advertising with famous person at the age of target group (Promotion), Attractive packaging (Product), Attractive Price structure (Price), Easy booking/buying (Place)
Category 3:
(Measures for customer development)
==> Exclusive information via text messages (Promotion), Club cards with bonus programs (Promotion/Price), Merchandising Products (Product), Information about offers (Promotion)
Assess the individual marketing tool groups (4Ps) in terms of their importance for working on the target market of your company. In doing so, differentiate the phases of the buying cycle. Briefly explain your assessment.
Table left side from top to bottom are stages of the buying cycle, top from left to right are marketing tools.
Stages of the buying cycle:
- Contact stage
- Evaluation stage
- Purchase stage
- Usage stage
- Repeat purchase stage
Marketing tools:
- Promotion
- Place
- Product
- Price
Assess with +++, ++, + and 0.
(E.g. Promotion is the most important in the contage stage and the repeat purchase stage, Place is most important in the purchase stage (quality of purchase transaction, but also in evaluation and repeat purchase stage in terms of accessibility, Product is most important in evaluation and usage stage, Price is most important in evaluation and usage stage (additional offers e.g. repair options))
