chapter 2 - Class Notes Jan 25th Flashcards
1
Q
what 4 things make up customer value:
A
-customer excellence
-operational excellence
-product excellence
-location excellence
2
Q
- Retain loyal customers
- Provide outstanding customer service
A
customer excellence
3
Q
- Efficient operations
- strong supplier relations
- Supply chain management
A
operational excellence
4
Q
- High perceived value
-effective brand positioning
-epple
A
product excellence
5
Q
Location - starbucks vs tims
A
location excellence
6
Q
- Customer value
- Customer service
- Customer relations
- Great prices
- Good service = good value
A
multiple sources of advantage
7
Q
what are the 3 phases of the planning process
A
- planning phase
- implementation phase
- control phase
8
Q
- threat of new etrants
-bargaining power of buyers
-bargaining power of suppliers
-threat of substitutes
A
competitive rivalry
9
Q
- Must be about company
- Must be within companies control
- Must be a comparison against the competition better or worse
A
strength vs weakness
10
Q
- Must be external to company
- Is not within control of company
- Must exist in absence of the company
A
opportunity vs threat
11
Q
name the main 4 growth strategies
A
- market penetration
- market development
- product development
- diversification
12
Q
- corporate level
- business level
-functional level
A
3 levels of strategic planning
13
Q
- a firms target market
- related marketing mix 4p’s
- competiteve advantage
A
what is a marketing strategy
14
Q
good service = _________
A
good value
15
Q
what 2 parts of the swot analysis are helpful:
A
- strengths
-opportuinities
