Strategy Flashcards

1
Q

Swot anayalsis?

A

Strenght Weakness Opportunity Threats
Looks at internal ( SW) and external (OT) o help make straegtys and descision plans.

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2
Q

What are porters 5 forces

A
  1. Buyer power- small market= customers decide price
  2. Supplier power= Lots of firms means they set prices as they have lots of supplier options
    3.Threat of new entrys- if firm makes products this encouarages new firms to join and increase competiton
    4.Threat of subsitute product- food= lots of subsitutes plane = little subsitutes
    5.Competitive rivalry within an industry- competition of firms
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3
Q

What is ansoff matrix and its 4 components Less risky to most risky

A

Shows options to business to help them grow
1.Market penetration
2.Product developement
3.Market development
4.Diversification

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4
Q

What is market penetration

A

Selling an exsting market in an exsting market. Increase marketing to increase market share, drive out competition and increase brand image

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5
Q

What is product developement

A

New product in the same market for example vegan burger

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6
Q

What is market developement

A

Same product in a new market. Selling abroad, or online, offering delivery.

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7
Q

What is diversification

A

New product in new market. Greggs selling shoes.

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8
Q
A
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