mark 4322 final

What are the four approaches to strategy taught in this class?

Customer creation, customer value, industrial structure, and shareholder value

What are the six questions for marketing oneself?

What are my strengths?

duty's ist

What are my values? decision analysis model

How do I perform? contect analysis

Where do I belong?

What do I contribute?

What relationship am I responsible for?

trust and communication

What are the components of the mission?

Why do you do what you do?

What is your purpose?

Who do you serve?

How do you serve them?

Context analysis (WILL BE ON EXAM)

Discovering how you perform and in which types of environments you perform the best.

Ask youself:

1. "How do I learn?" writing it down, talking to others, observeing, or by just doing it.

2. "Do I act on this knoeledge?"

3. "In what environments do I perfome at my best?"

answer: advisor, boss, stability, alone, and big organization

What are the three policies for managing change/making the future?

Preventive care, continouse improvement, build on past success

What are the seven methods for anticipating change?

Unexpected success, incongruity, process need, chnages in market structure, demographics, changes in mood, and new knowledge

Which of the seven methods for anticipating change is the most important?

?

What are the first principles of marketing taught in this class?

Listen to your customer, win with strength, do your duty, change the rules, weigh the pros and cons

What are the characteristics(values) of tomorrow's markets? + their artifacts (WILL BE ON EXAM)

Customer- listen to your customer (phone)

Capital- chnage the rules (coke can)

Labor- wigh the pros and cones (kitchen scale)

Government- win with strength (barbie)

What is MPQ?

Market-perceived quality: companies succeed when they provide superior customer value over their competitors.

What is MPP?

Market Perceived Price: both financial and customer data are used in evaluating performance.

What are the steps in creating a decision model?

1. List the pros and cons

2. Assign weights (must add to 100)

3. Add weights

4. Compare pros and cons

5. Evaluate

What does SAILS stand for?

Satisfaction, Attributes, Independence, Linearity, Scale

What type of strategy is the industrial organization approach?

Develop and implement strategies that position the firm economically in its environment. E.g. how to reduce costs or add value.

What are the five forces?

1. Threat of new entrants

2. Threat of substitutes

3. Bargaining power of buyers

4. Bargaining power of suppliers

5. Current rivalry

What is a strategic group?

A group of firms following the same, or similar strategic dimensions.

When people say shareholder value, what are they really talking about?

Focusing on the economic value of an investment, it's all about cash, the difference between after tax operating

cash flow and the investment..

What is Pmin?

Minimum operating profit required to generate value for shareholders.

What are the turbo triggers of cash flow?

-Selling Price

-Sales mix

-Scales of economies

-Cost of efficiencies

(idk if this is right)

How do you create customer?

Have an innovation

Idk just memorize this, something How to calculate risk-adjusted basis (i think)

Change in sales

Times the operating speed

Time what you need

On a risk-adjusted basis