Crucial Mental Models

Question 1

SWOT analysis

Answer 1

Strengths, Weaknesses, Opportunities, and Threats

S+W: Internal
O+T: External

Question 2

Marketing 4 P’s

Answer 2

Product, Price, Place, and Promotion

Question 3

Business Model Canvas

Answer 3

Outlines the key components of a business model
-Value proposition, customer segments, channels, revenue streams, and more.

Question 4

Porter’s Five Forces

Answer 4

Analyzes comptetitive forces
-Bargaining power of buyers AND suppliers
-Threat of new entrants AND substitutes
-Rivalry among existing competitors.

Question 5

Value Chain

Answer 5

Analyzes company’s internal activities to improve value

Question 6

Decision Tree

Answer 6

Uses a chain-like model to visualize outcomes

Question 7

Ansoff Matrix

Answer 7

Analyzes products in relation to markets
Market pen. Product dev.
Market dev. Product diversification

Question 8

Blue Ocean Strategy

Answer 8

An approach to obtaining market share in a market with no competition

Question 9

Pareto Principle

Answer 9

80% of the effects come from 20% of the causes

Question 10

Lean Startup Model

Answer 10

Focuses on creating a strong, quick businesses/products that rapidly iterate and improve

Question 11

Hierarchy of Effects

Answer 11

Describes stages a consumer passes through otw to making a purchase decision (AIDAS)

Awareness -> Interest -> Desire -> Action -> Satisfaction

Question 12

PESTLE Analysis

Answer 12

Political, Economic, Social, Technological, Legal, Environmental