lecture4-company Flashcards
What are core values?
Fundamental, passionate, enduring principles, stories, beliefs, and norms that characterize a firm and guide its conduct over time.
What are the goals of a company?
- Profits
- Customer service
- Prestige
- Diversity/inclusion
- Information/knowledge
What is Google’s mission?
To organize the world’s information and make it universally accessible.
What does PEST analysis stand for?
- Political & Legal Trends
- Economic Trends
- Social & Cultural Trends
- Technological Trends
What is SWOT analysis?
Technique for analyzing the market focusing on internal and external factors that are favorable or unfavorable.
What does SWOT stand for?
- Strengths
- Weaknesses
- Opportunities
- Threats
What are some strengths in a SWOT analysis?
- Large market share and revenues
- Locally adapted menus around the globe
- Valuable partnerships: Dannon, Heinz, Coca-Cola
What are some opportunities in a SWOT analysis?
- Introduce healthier food choices to match demand
- Change customer eating habits
What are some weaknesses in a SWOT analysis?
- Unhealthy food menu
- Negative publicity
- Low-level employees mostly underpaid
What are some threats in a SWOT analysis?
- Saturated fast food market in developed countries
- Health trend rejects fast food
What is a brand?
A name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of the competition.
What is brand equity?
The added value the brand name gives to a product beyond the functional benefits provided.
How to manage and build brand equity?
- Consumer recognition
- Consumer perception
- Consumer response
- Consumer bonding
What benefits do brands provide to consumers?
- Signals information/quality
- Allows self-expression
- Good feeling
- Efficient shoppers
What benefits do brands provide to firms?
- Price premium over unbranded alternatives
- Barriers to entry
- Ability to extend brand to other products => leverage brand equity
What are risks of brand name extensions?
- Mismatch on consumer preferences
- Hurts extension: ‘Overstretch’ brand name - Consumers feel brand name meaning does not work for this product
- Can also hurt original products that use the brand name
- Overstretching can confuse consumers
- Dilutes brand name meaning
