Final Review Ch.1 Flashcards Preview

Business Marketing 241 > Final Review Ch.1 > Flashcards

Flashcards in Final Review Ch.1 Deck (17):
1

What is CORPORATE STRATEGY?

What business should we be in?

2

What is STRATEGIC BUSINESS UNIT STRATEGY?

How do we compete effectively?

3

What is BOSTON CONSULTING GROUP PORTFOLIO MODEL?

Measures performance of SBU's based on market growth rate & relative market share.

4

Define a STAR (SBU)

High growth - High share.
Require cash for rapid growth.

5

Define CASH COW (SBU)

High Share - Slow Growth
Provide cash

6

Define QUESTION MARKS (SBU)

High Growth - Low Share
Money required from cash cow to make into a Star

7

Define DOGS (SBU)

Slow Growth - Low Share
Little hope. Self-supporting. May be dropped.

8

Define MARKET PENETRATION

Selling more of existing products in existing markets

9

Define PRODUCT DEVELOPMENT

New products to existing markets

10

Define MARKET DEVELOPMENT

Existing products to new markets

11

Define DIVERSIFICATION

New products to new markets

12

4 Points for Successful Revenue Model

1. Customer acquisition
2. Customer retention
3. Sales per customer
4. Margin (price-cost)

13

Define PRODUCTION ORIENTATION

Build it and they will come

14

Define SALES ORIENTATION

Sell products

15

Define MARKET ORIENTATION

Customer is king. Focus on needs.

16

Define SOCIETAL ORIENTATION

Do well by doing good.

17

True or false? 90% of dissatisfied customers who complain are retained?

TRUE