models over all the topics Flashcards
4Ps
product, price, place, promotion
buyer decision behaviour
high involvement + significant difference between brands = complex buying behaviour
low involvement + significant difference between brands = variety seeking buyer behaviour
high involvement + few difference between brands = dissonance reducing buyer behaviour
low involvement + few differences between brands = habitual buyer behaviour
crossing the charm
early market - innovators
the chasm - early adopters
mainstream market - 1. early majority, 2. late majority, 3. laggards
STDP model
segmentation
target
differentiation
positioning
effective segmentation model
MASDA
MASDA
measurability
accessibility
substantial
differentiable
actionable
value positioning
full positioning of a brand - full mix of benefits
what model is related to objectives and goals
the SMART model
what does SMART stand for
specific
measurable
achievable
relevent
time-based
what is the BCG growth-share matrix
a portfolio planning method that evaluates the company’s SBUs in terms of market growth rate and relative market share
what does the BCG growth-share matrix entail
y axis- market growth rate
x axis- relative market share
cash cow, STAR, question mark, dog
what is the product/market expand grid
portfolio planning tool for identifying company growth opportunities through market penetration; development and product development or diversification
what does the product/market expand grid entail
existing market + existing product = market penetration
new product + existing market = product development
new market + existing product = market development
new market + new product = diversification
what does the marketing analysis entail
+ve and internal = strengths
-ve and internal = weaknesses
+ve and external = opportunities
-ve and external = threats
what is the 5 stage decision model
- internationalize?
- which market?
- market enter strategies
- global marketing programme
- global marketing implementing and coordinating
what is the 5 stage decision model used for
to determine whether a company should expand to a foreign country
what does micheal porter’s value chain entail
- support activities - firm infrastructure, HR management, tech and development, procurement
- primary activities - inbound logistics, operations, outbound logistics, marketing and sales, sales
both bound by margins
includes value activities too
what are value activites in micheal porter’s value chain
building blocks with which a firm creates a product valuable to its buyers
what are margins in michael porter’s value chain
difference between total value and the collective cost of preforming the value activities
what is porter’s diamond
model which describes the effect that attributes of domestic markets have on the competitive advantages of firms/nations in international markets
what does the porter’s diamond entail
firm strategy, structure and rivalry
demand conditions
related and supporting industries
factor conditions
all pointing towards competitive advantage
what is porter’s 5 forces
framework to analyse the state of competition/ profit potential in an industry
what are porter’s 5 forces
- competition in industry
- potential of new entrants into industry
- power of new suppliers
- power of consumers
- threats of substitute product
what does VRIO stand for
valuable to firm?
rare among competitors?
difficult to imitate?
organized to explicit?
