Tough areas Flashcards
1
Q
5 key marketing objectives
A
- increase market share
- enter new markets
- new product development
- sales growth
- brand loyalty
2
Q
4 internal influences on product development
A
- availability of budget for R&D
- talent
- past success or failure
- how old current products are
3
Q
5 egxternal factors that influence new product development
A
- gap in the market
- customer expectations
- new technology
- competitors actions
- government policies
4
Q
buffer level
A
minimum amount of stock held designed to cover for emergencies e.g late delivery by supplier
5
Q
lead time
A
time between an order being placed and its arrival
6
Q
5 financial methods of motivation
A
- salaries
- wages
- bonuses
- piece rate
- performance related pay
7
Q
5 non-financial methods of motivation
A
- promotion
- praise
- consultation
- delegation
- empowerment
8
Q
fiscal policy
A
- how much tax people and businesses pay to fund government spending
9
Q
opportunities of globalisation (3)
A
- cheaper resources
- avoid trade barriers
- new markets
10
Q
threats of globalisation (4)
A
- competition
- lower prices pressure
- economic risks
- political risks
11
Q
internal factors affecting strategy (4)
A
- corporate objectives
- financial resources
- Boston matrix
- shareholders attitude to risk
12
Q
external faCtors affeCting strategy (4)
A
- changes in technology
- law
- competitors actions
- barriers to entry
13
Q
4 stages of strategic drift
A
- incremental change
- strategic drift
- flux
- transformational change or death
