Questions generated from notes

Question 1

What are the 3 levels of strategy and what question do they ask?

Answer 1

1. Corporate strategy- what businesses should we be in? 2. SBU- Strategic business unit- how do we compete effectively in a given business? 3. Marketing strategy- How do we orchestrate the marketing mix (PPPP) to deliver value to a particular market segment?

Question 2

Concerning market strategy, what should you ask yourself when thinking about segmentation?

Answer 2

Which segments COULD we exchange with?

Question 3

Concerning market strategy, what should you ask yourself when thinking about targeting?

Answer 3

Which segments SHOULD we exchange with?

Question 4

Concerning market strategy, what should you ask yourself when thinking about positioning?

Answer 4

What do we want our customers to think/ feel about our product?

Question 5

Targeting + marketing mix=

Answer 5

create/ deliver value

Question 6

Customers + sales=

Answer 6

capture value

Question 7

What is “dumping”?

Answer 7

If a company exports a price lower than the price that it normally charges on its own market.

Question 8

What is false-consensus bias?

Answer 8

When managers over estimate how many people are similar to them. “I like it, so everyone else must like it too!”

Question 9

The last class period we had was: A. Cool & interesting. B. Kind of boring. C. Super boring D. It was so freaking boring I left earlier than usual!!!

Answer 9

D- as in “Don’t you think so too?” or “Do I really need to ask?”