Chapter 2 Flashcards
1
Q
Sustainable competitive advantage is not __________ and can ___________ over time.
A
Easily copied
Be maintained
2
Q
4 Types of Advantage
A
Customer Excellence
Operational Excellence
Location Excellence
Product Excellence
3
Q
Marketing Plan Steps (5)
A
1 - Business mission and objectives 2 - Situation analysis (SWOT) 3 - Identify opportunities with STP 4 - Implements marketing mix of 5P's 5 - Evaluate performance
4
Q
SWOT
A
Strengths and Weaknesses are internal
Opportunities and Threats are external
5
Q
STP
A
Segmentation
Targeting
Positioning
6
Q
High market growth, High market share
A
Stars
7
Q
High market growth, Low market share
A
Question marks
8
Q
Low market growth, High market share
A
Cash cows
9
Q
Low market growth, Low market share
A
Dog
10
Q
Current market/Current product
A
Market Penetration
11
Q
Current market/New product
A
Product Development
12
Q
New market/Current product
A
Market Development
13
Q
New market/New product
A
Diversification
