models over all the topics

Question 1

4Ps

Answer 1

product, price, place, promotion

Question 2

buyer decision behaviour

Answer 2

high involvement + significant difference between brands = complex buying behaviour
low involvement + significant difference between brands = variety seeking buyer behaviour
high involvement + few difference between brands = dissonance reducing buyer behaviour
low involvement + few differences between brands = habitual buyer behaviour

Question 3

crossing the charm

Answer 3

early market - innovators
the chasm - early adopters
mainstream market - 1. early majority, 2. late majority, 3. laggards

Question 4

STDP model

Answer 4

segmentation
target
differentiation
positioning

Question 5

effective segmentation model

Answer 5

MASDA

Question 6

MASDA

Answer 6

measurability
accessibility
substantial
differentiable
actionable

Question 7

value positioning

Answer 7

full positioning of a brand - full mix of benefits

Question 8

what model is related to objectives and goals

Answer 8

the SMART model

Question 9

what does SMART stand for

Answer 9

specific
measurable
achievable
relevent
time-based

Question 10

what is the BCG growth-share matrix

Answer 10

a portfolio planning method that evaluates the company’s SBUs in terms of market growth rate and relative market share

Question 11

what does the BCG growth-share matrix entail

Answer 11

y axis- market growth rate
x axis- relative market share
cash cow, STAR, question mark, dog

Question 12

what is the product/market expand grid

Answer 12

portfolio planning tool for identifying company growth opportunities through market penetration; development and product development or diversification

Question 13

what does the product/market expand grid entail

Answer 13

existing market + existing product = market penetration
new product + existing market = product development
new market + existing product = market development
new market + new product = diversification

Question 14

what does the marketing analysis entail

Answer 14

+ve and internal = strengths
-ve and internal = weaknesses
+ve and external = opportunities
-ve and external = threats

Question 15

what is the 5 stage decision model

Answer 15

1. internationalize?
2. which market?
3. market enter strategies
4. global marketing programme
5. global marketing implementing and coordinating

Question 16

what is the 5 stage decision model used for

Answer 16

to determine whether a company should expand to a foreign country

Question 17

what does micheal porter’s value chain entail

Answer 17

1. support activities - firm infrastructure, HR management, tech and development, procurement
2. primary activities - inbound logistics, operations, outbound logistics, marketing and sales, sales
   both bound by margins
   includes value activities too

Question 18

what are value activites in micheal porter’s value chain

Answer 18

building blocks with which a firm creates a product valuable to its buyers

Question 19

what are margins in michael porter’s value chain

Answer 19

difference between total value and the collective cost of preforming the value activities

Question 20

what is porter’s diamond

Answer 20

model which describes the effect that attributes of domestic markets have on the competitive advantages of firms/nations in international markets

Question 21

what does the porter’s diamond entail

Answer 21

firm strategy, structure and rivalry
demand conditions
related and supporting industries
factor conditions
all pointing towards competitive advantage

Question 22

what is porter’s 5 forces

Answer 22

framework to analyse the state of competition/ profit potential in an industry

Question 23

what are porter’s 5 forces

Answer 23

1. competition in industry
2. potential of new entrants into industry
3. power of new suppliers
4. power of consumers
5. threats of substitute product

Question 24

what does VRIO stand for

Answer 24

valuable to firm?
rare among competitors?
difficult to imitate?
organized to explicit?

Question 25

what are the phases of the marriage metaphor

Answer 25

awareness> exploration> expansion> commitment> dissolution

Question 26

4Ps > 7Ps

Answer 26

original: price, place, promotion, product
additional: people, process, physical evidence

Question 27

what are the dimensions of international product offer

Answer 27

augment product - product service
actual product - product attributes
core products - benefits

Question 28

what does augment product include

Answer 28

delivery, installation, guarantees
after sale service: repair, maintenance, spare parts

Question 29

what is included in actual product

Answer 29

brand name, quality, design, packaging, size and colour variants, country of origin, price, staff behaviour

Question 30

what includes core product

Answer 30

features, performance, perceived value, image, technology

Question 31

from high to low on possibilities of standardizing elements of products put the dimension of international product offers

Answer 31

augment product
actual product
core product

Question 32

what are the major decisions of internal distribution decisions

Answer 32

structure of the channel
choosing a mix of distribution channels
managing and controlling distribution channels

Question 33

what is the sub-decisions of structure of the channel

Answer 33

types of intermediate, coverage, length, control of resources, degree of integration

Question 34

what are the sub-decisions of choosing a mix of distribution channel

Answer 34

coordination of prices across distribution channels/ product offer to the different channel member

Question 35

what are the sub-decisions of managing and controlling distribution channels

Answer 35

screening/ selecting intermediates, contracting, motivating, controlling, termination