1 Flashcards
The Value Chain is composed of
marketing, product design, manufacturing, and transportation logistics.
The essence of marketing is
to provide a superior value
proposition to surpass the competition
Create value for customers by
improving benefits or reducing
price
Value=
Benefits/Price
The Market consists of
People or organizations that
are both able and willing to
buy.
Value Proposition is
The Perceived value to the customer & The firm’s promise to the customer of value.
Porters generic strategies modell consists of … and the different strategies are …
Competitive scope and competitive cost.
- Cost leadership
- Differentiation
- Cost focus
- Differentiation focus
Marketing is
the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Internationalization process
- Choice of region country Market
- Choice of entry mode
- Choice of global marketing mix
Marketing mix include
4 Ps, product, price, place and promotion
Standadrization is … and is good because…
having the same marketing mix nontheless market/ not changing concept or strategies when entering new market
it saves time, mony and manpower, making it cheap.
Adaptation is … and is good because…
having the different marketing mix depending on the market. It takes into account the local market, competative and legal conditions.
it have a higher sucesses rate than standardization.
Product is based on
the user experience and how is it compared to competitors.
Price / pricing stretegy depends on
cost of product, competitors price, the customer demand and the industry.
Promotion is
everything that is about getting the customer to know about the product. Know your customer and who they are. A product is a message. How do you get out your message?
