Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Value creation > Value creation process > Flashcards

Value creation process Flashcards

1
Q

What are the 2 faces of value creation

A

Customer value creation

enterprise value creation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is the core product?

A

core product is the basic good or service. (SOP)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is an Enhanced product

A

Enhanced product a basic good with additional implication( enhancement). It brings more value.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What does the consumer expect?

A

Customers expect and buy the benefits and value of the total offer.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What is a tangible benefit?

A

Tangible is a physical feature of the product

ex: packaging

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What is an intangible benefit?

A

intangible feature and benefits is a unphysical feature of the product

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What are the levels of the offer

A

Four levels of offer:

  1. Core or generic
  2. Expected
  3. Augmented
  4. Potential
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What is a core or generic offer?

A

The basic physical product or service

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is Expected offer?

A

the minimal items that are expected to receive in order to use the basic product.
ex: manual, warranty

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is Augmented offer?

A

Extra items to differentiate a product with other rivals

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

what is Potential offer?

A

the potential innovation of the offer thant can be improve to attract new customers.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Marketing ladder of loyalty?

A 
Prospect
customer
client
supporter
advocate
partner
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What is a prospect?

A

A candidate business partner

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is a customer?

A

someone who has done business with you

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

what is a client?

A

Someone who has repeatetly do business with you

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

what is a supporter?

A

someone who likes your org and supports you passively

17
Q

What is an Advocate?

A

Someone who actively recommends you to others

18
Q

What is a Partner?

A

Someone who has the relationship of a partner with you

19
Q

What is a Value Chain?

A
  • It is used to describe the linked business activities
  • It gives visual model of the activities allowing to determine where to reduce costs
  • It allows to create competitive advantage.
20
Q

What are the 2 activities in value chain analysis?

A

Primary and support

21
Q

What are in support activities?

A
  • Firm Infrastructure
  • Human Resource Management
  • Technology development
  • Procurement
22
Q

What is Firm Infrastructure?

A

Take care all the management, financial, and legal systems

23
Q

What is Human Resource Management?

A

Responsible for the processes in managing employees and hiring new staffs.

24
Q

What is Technology development?

A

IT department where it helps business innovate and increase efficiency or decreasing production costs

25
Q

What are the primary activites?

A
  • Inbound Logistics
  • Operations
  • Outbound Logistics
  • Marketing and Sales
  • Services
26
Q

What is Inbound Logistics?

A

how materials and resources are gained from suppliers before the final product

27
Q

What is Operations?

A

How the materials are produced to become the final product. ex: cost of machinery and warehouse

28
Q

What is Outbound Logistics?

A

Distribution of the final product ex: shipping cost

29
Q

What is Marketing and Sales?

A

How the product is presented and sold.

ex: advertising costs

30
Q

What is services?

A

support towards the customer.

ex: warranties, guarantees. cost of repair product training cost

31
Q

What is upstream cost?

A

Cost that occur before production.

32
Q

What is downstream cost?

A

cost occur after production

Value creation (5 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions