Theories

Question 1

Name the components of the promotion mix

Answer 1

PR
SALES volume
Advertising
Discounts

Question 2

High power high interest

Answer 2

Manage closely - shareholders , senior managers

Question 3

High power low interest

Answer 3

Meet needs - government

Question 4

Low influence low interest

Answer 4

Regular minimal contact- local community

Question 5

High interest low power

Answer 5

Keep informed- Regular customers

Question 6

Name the 5 components of Blake moutons grid

Answer 6

Impoverished management
Country club management
Middle of the road management
Authority complaince management
Team management

Question 7

Low cost Broad target

Answer 7

Cost leadership-lowest costs

Question 8

Low cost narrow target

Answer 8

Cost focus- focusing on costs but not the lowest

Question 9

Differentiation , narrow target

Answer 9

Differentiation focus in a niche market

Question 10

Differentiation broad target

Answer 10

Differentiation- Ferrari cars

Question 11

Existing product , existing markets

Answer 11

Market penetration- increasing market share

Question 12

New product existing market

Answer 12

Product development- Amazon launching bookstore online

Question 13

New market existing product

Answer 13

Market development-Tesco launching into America

Question 14

New product new market

Answer 14

Diversification - Nissan gtr

Question 15

Elkintons triple bottom line

Answer 15

People , profit , environment

Question 16

Kaplan and Norton- measuring business focususes

Answer 16

Financial
Customers
Business procedure
Learning and growth

Question 17

Elkingtons triple bottom line

Answer 17

People place profit

Measuring business performance

Question 18

Kottler and schislinger reasons for resistance

Answer 18

Self interest
Different assessment of situation
Misinformed
Low tolerance for change

Question 19

Kottler and scheslinger ways to overcome change

Answer 19

Education and communication
Participation and involvement
Facilitation and support
Explicit and implicit cohertion
Negotiation and bargaining

Question 20

Maslow heirachy of needs

Answer 20

Physiological factors
Safety and security
Love and belonging
Self esteem
Self actualisation

Question 21

Types of sampling

Answer 21

Random
Stratified- pick people within demographic
Systematic- every 5 people

Question 22

Name the features of lewins change model

Answer 22

Unfreezing
Moving
Refreezing

Question 23

What is unfreezing (lewins model)

Answer 23

Reducing strength of the forces which maintain equilibrium

Question 24

Moving (lewins model)

Answer 24

Developing new organisational values

Question 25

Refreezing (lewins model)

Answer 25

Stabilising after the changes have been made so that there is new equilibrium

Question 26

What does Grieners model show

Answer 26

The six phases and crisis that a business may experience as they grow

Question 27

Greiners crisis in order

Answer 27

Crisis of leadership
Crisis of autonomy
Crisis of red Tape
Crisis of growth

Question 28

What is the purpose of bowman’s strategic clock

Answer 28

Help businesses to analyse their competitve position in the market and identify potential strategic options

Question 29

Bowman’s clock features in order
1-8

Answer 29

Low price and value- cheap cola
Low price- primark
Hybrid -ikea
Differentiation - Starbucks
Focused differentiation - Dior
Risky high margins - high end watch
Monopoly pricing - Apple
Loss of market share- poor accountant

Question 30

Centralisation

Answer 30

When only executives at an organisation manage decision making responsibilities

Question 31

Decentralisation

Answer 31

When decisions are delegated from the top of the business to middle and lower level managers

Question 32

Herzberg two factors

Answer 32

Motivating factors - responsibility, work itself
Hygiene factors - salary, working conditions

Question 33

What is competitve advantage

Answer 33

Advantage over competitors gained by offering consumers greater value

Through:
Lower pricing
Greater quality
Brand image

Question 34

Types of growth

Answer 34

Internal
External intergration
Horizontal intergration
Vertical
Takeover
Mergers
Franchise
Congolomerate intergration

Question 35

Horizontal intergration

Answer 35

When a business intergrates with another business at same stage of production process

Question 36

Role of mangers

Answer 36

Setting objectives
Analysing
Making decisions
Leading
Reviewing

Question 37

Carroll’s cooperate responsibility pyramid

Answer 37

Ranks key responsibilities of an organisation in order of importance

From most to least:
Economic- profits

Legal- remain within laws

Ethical

Philanthropic responsibility- model coorperate citizen

Question 38

Bartlett and ghosals

Answer 38

Measures the two competing forces when selecting the strategy to go international

Pressures for local responsiveness- pressures to integrate product with local cultures

Pressures for global integration-pressure to reduce costs

Question 39

Global strategy (Bartlett and ghosals)

Answer 39

Low pressure for local responsiveness

High global integration pressure

Huge centralised factories to produce on a global scale

Question 40

International strategy (Bartlett and ghosals)

Answer 40

Low pressure for both

Centralised branding with localised approach

Question 41

Multi domestic strategy (Bartlett and ghosals)

Answer 41

High pressure to be locally responsive

Low pressure to be global inter grated

In essence each countries brand is ran on its own

Question 42

Transnational strategy ( Bartlett and ghosals)

Answer 42

Goal to harness both size and specialisation

Different branches in each country specialised but work independently to ensure demand can be satisfied

Question 43

Porters 5 forces

Answer 43

Nature of competition

Threat of new entrants - barriers to entry

Supplier power - resource is scarce , few alternatives

Buyer power - homogenous products , easy to shop around

Threat of substitutes - a lot of choices , going on a night out

Rivalry - market size , brand loyalty