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Marketing > Cours 3 > Flashcards

Cours 3 Flashcards

1
Q

What does SWOT represent?

A

It is a model representing the strengths, weaknesses, opportunities, and threats of a company.

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2
Q

What is a strength?

A

It is an important characteristic that an organization uses to attain its objectives, seize opportunities in its environment and protect itself from threats.

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3
Q

What is a weakness?

A

It is a factor that can harm the organization by limiting its ability to achieve its objectives, either because it cannot seize opportunities that arise, or because it makes the company vulnerable to potential threats.

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4
Q

What is the first method to analyze the internal environment?

A

It is to analyze each of the components of the internal environment and see how the organization is positioned relative to each of these components.

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5
Q

What is the second method to analyze the internal environment?

A

It focuses on each of the primary and support activities that make up the value chain.

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6
Q

What is the third method to analyze the internal environment?

A

It’s with doing benchmarking.

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7
Q

What are the factors of the internal environment?

A
  • Resources and core competencies (competencies) of the organization.
  • Its current offer.
  • Its prior performance.
  • Its business relations.
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8
Q

What are the resources and core competencies of the internal environment?

A
  • Human resources (qualification, competencies, motivation, etc.)
  • Financial resources (budget in marketing, division of the budget, etc.)
  • Information resources (R&D)
  • Resources linked to purchasing (company advantage)
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9
Q

What is the current offer of the internal environment?

A

We need to make a list of the products and services and their performance to analyze demand.

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10
Q

What are past performances in the internal environment?

A

Analyzing the business in the past will give insight into the possible strengths and weaknesses of the company.

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11
Q

What are relations with business partners in the internal environment?

A

It is to evaluate suppliers, distributors, and other business partners to see what benefits/disadvantages they can bring to the company.

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12
Q

What are the 2 main components of the value chain?

A
  • Support activities
  • Primary activities
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13
Q

What are inbound logistic activities?

A

Activities related to the management of the inputs required for the production of the good or service offered in the market

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14
Q

What are outbound logistic activities?

A

Activities that includes all aspects of distribution.

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15
Q

What are the activities linked to after-sale service?

A

Activities that add value to the company’s offer and improve customer satisfaction and retention.

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16
Q

What are the types of primary activities?

A
  • Inbound logistic activities
  • Activities linked to the operations
  • Outbound logistic activities
  • Activities related to marketing and sales (segmentation, targeting, positioning, and management of the marketing mix).
  • Activities linked to after-sale service
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17
Q

What are activities linked to the operation?

A

Activities that involve the transformation of inputs into products.

18
Q

What are the support activities?

A

These activities are the ones that are responsible for the strength ad the weaknesses of the company:
- Procurement
- Technology
- Human Resource Management
- Firm infrastructure

19
Q

What is benchmarking?

A

It is a continuous process that lets companies measure their performance in terms of products, services, and practices, against the most efficient competitors in their sector, or firms considered as leaders in other sections. The comparison can also be done internally based on best processes and practices within the other division of the organization.

20
Q

What is the first cell of the analytical matrix of strategic priorities?

A

These activities are undeniably a key strength; the organization should strive to maintain and reinforce them.

21
Q

What is the second cell of the analytical matrix of strategic priorities?

A

These activities are very important on the strategic level, but the organization does not perform as well as its main competitor. This situation points to weaknesses that the organization must correct and prioritize immediately. Failure to act may pose a real threat to the organization.

22
Q

What is the third cell of the analytical matrix of strategic priorities?

A

These activities require less attention because they are not as important and the organization does not perform them very efficiently. Therefore, developing them would be a poor allocation of resources.

23
Q

What is the fourth cell of the analytical matrix of strategic priorities?

A

These activities are unimportant strategically, but the organization performs them efficiently. This diagnosis indicates a poor allocation of resources, which should be reassessed by decision-makers.

24
Q

What are the 2 views to analyze the external environment?

A
  • With a macro view
  • With a micro view
25
Q

What is the microenvironment?

A

It is the established and potential competitors, substitute products, customers, and suppliers of the organization.

26
Q

What is the most challenging task to analyze the microenvironment?

A

It is to define the market and the sector.

27
Q

What are the 5 competitive strengths based on Porter’s model?

A
  • Competitive rivalry within an industry.
  • Bargaining power of suppliers.
  • Bargaining power of customers.
  • Threat of new entrants.
  • Threat of substitute products and services.
28
Q

What is the macroenvironment?

A

It includes all factors of the external environment that the organization cannot control, but that may affect supply and demand in a market. These factors may be political, economic, social, technological, ecological or legal.

29
Q

What are the components of the macroenvironment?

A
  • Political environment
  • Economic environment
  • Social environment
  • Technological environment
  • Ecological environment
  • Legal environment
30
Q

What is the next step after analyzing the microenvironment?

A

It is to evaluate the duration and effect of those factors.

31
Q

What is a marketing infromation system (MIS)?

A

It is a set of resources and procedures for collecting and analyzing data from the organization and its environment, and transforming it into useful information that will be used in marketing decision-making.

32
Q

What does the information provided to the MIS should be?

A
  • Pertinent and useful for addressing a marketing problem.
  • Reliable so that the manager can use it confidently.
  • Valid to avoid misleading the user.
33
Q

What are the component of the MIS?

A
  • Internal data
  • Marketing reasearch
  • Marketing intelligence
34
Q

What are secondary data?

A

It is data collected by a third party according to a methodology not controlled by the analyst, but that the analyst can use during research projects.

35
Q

What is primary data?

A

It is original data collected according to a methodology designed by the analyst. Primary data can meet managers’ specific information needs.

36
Q

What questions should you ask yourself before using secondary data?

A
  • Who collected the data?
  • WHy was the data collected?
  • What data were collected and by whom?
  • When were the data collected?
  • How were the data collected?
  • Are the data consistent with other data?
37
Q

What is a marketing research?

A

It is the function that links the consumer, customer, and public to the maketer through information – information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing action; monitor marketing performance; and improve understanding of marketing as a process.

38
Q

Give examples of strengths.

A
  • Strong brand image
  • Sustainable competitive advantage
  • Strong relationships with suppliers
  • Loyal customer base
39
Q

Give examples of weaknesses.

A
  • Lack of variety in products.
  • Dependence on a niche consumer segment.
  • Inability to attract graduates of top universities.
  • Poor social media presence
40
Q

Give examples of opportunities.

A
  • Consumers are becoming less price sensitive in the product category.
  • Increasing trust in online retailers.
  • Increasing popularity of AI
41
Q

Give examples of threats.

A
  • Research that links the product category to ADD.
  • Increasing raw material costs.
  • Increasing awareness of the environmental impact of the product category.

Marketing (9 decks)

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