LSUS MBA 706 Exam 1
Study online at https://quizlet.com/_fdkgb8
1. Marketing The activity, set of institutions, and processes for creating, communicating, deliv-
ering, and exchanging offerings that have value for customers, clients, partners,
and society at large.
2. Marketing Strate- A long-term plan that consists of activities of selecting target markets and design-
gy ing marketing mixes to satisfy the wants and needs of the selected markets.
3. Factors to consid- -Market drivers
er when develop- -Resources and skills available to companies
ing a marketing -Strategic windows
strategy -Competition
-Stage of market lifecycle
4. Market drivers -External to the company
-PEST Analysis helpful to understand
-What do they look like now and how are they expected to change in future?
5. PEST Political - laws, political stability, election times, corruption level
Economic - economic stability, growth rate, inflation and interest rates
Socio-cultural - cultural factors, age groups, traditions, religion
Technological: Infrastructure, current and future technologies
6. Resource-Based -External environment is constantly changing
Theory of -internal factors, like resources and capabilities offer a more stable basis to define
Competitive strategy
Advantage -Resources and capabilities lead to competitive advantage, on which strategy
should be determined
7. Strategic Window -Fit between external env and internal env
-Market is dynamic and constantly changing
8. 4 Groups of - Development of new primary demand
change - New competing technologies
, LSUS MBA 706 Exam 1
Study online at https://quizlet.com/_fdkgb8
- Market redefinition
- Channel changes
9. Industry Lifecycle A company's strategy is affected by this:
-Introduction
-Growth
-Maturity
-Decline
10. Can be used Porter's Five Forces
to assess market
competitiveness
11. Rivalry among How many competitors are in market? How strong are they? What are their capa-
existing competi- bilities and skills?
tors
12. Threat of New En- How difficult/easy it is for new competitors to enter the market? Are barriers to
trants entry (technologies, patents, financial requirements) high or low?
13. Bargaining pow- Number and power of buyers in market; Can buyers drive prices down? Can buyers
er of buyers easily switch to competitors' products?
14. Threat of substi- Can products or services easily be substituted by competitors' products or services?
tute products or Can your products or services be outsourced?
services
15. Bargaining pow- Number and power of suppliers in market. How difficult/easy it is for suppliers to
er of suppliers drive prices up? How difficult/easy it is to switch between suppliers?
16. Competitive -various goals and policies don't contradict each other
strategy is -Goals/Policies don't contradict realities of the macro environment
appropriate if: -Goals/Policies fit resources and capabilities available
-Goals/Policies are understood and implementable
Study online at https://quizlet.com/_fdkgb8
1. Marketing The activity, set of institutions, and processes for creating, communicating, deliv-
ering, and exchanging offerings that have value for customers, clients, partners,
and society at large.
2. Marketing Strate- A long-term plan that consists of activities of selecting target markets and design-
gy ing marketing mixes to satisfy the wants and needs of the selected markets.
3. Factors to consid- -Market drivers
er when develop- -Resources and skills available to companies
ing a marketing -Strategic windows
strategy -Competition
-Stage of market lifecycle
4. Market drivers -External to the company
-PEST Analysis helpful to understand
-What do they look like now and how are they expected to change in future?
5. PEST Political - laws, political stability, election times, corruption level
Economic - economic stability, growth rate, inflation and interest rates
Socio-cultural - cultural factors, age groups, traditions, religion
Technological: Infrastructure, current and future technologies
6. Resource-Based -External environment is constantly changing
Theory of -internal factors, like resources and capabilities offer a more stable basis to define
Competitive strategy
Advantage -Resources and capabilities lead to competitive advantage, on which strategy
should be determined
7. Strategic Window -Fit between external env and internal env
-Market is dynamic and constantly changing
8. 4 Groups of - Development of new primary demand
change - New competing technologies
, LSUS MBA 706 Exam 1
Study online at https://quizlet.com/_fdkgb8
- Market redefinition
- Channel changes
9. Industry Lifecycle A company's strategy is affected by this:
-Introduction
-Growth
-Maturity
-Decline
10. Can be used Porter's Five Forces
to assess market
competitiveness
11. Rivalry among How many competitors are in market? How strong are they? What are their capa-
existing competi- bilities and skills?
tors
12. Threat of New En- How difficult/easy it is for new competitors to enter the market? Are barriers to
trants entry (technologies, patents, financial requirements) high or low?
13. Bargaining pow- Number and power of buyers in market; Can buyers drive prices down? Can buyers
er of buyers easily switch to competitors' products?
14. Threat of substi- Can products or services easily be substituted by competitors' products or services?
tute products or Can your products or services be outsourced?
services
15. Bargaining pow- Number and power of suppliers in market. How difficult/easy it is for suppliers to
er of suppliers drive prices up? How difficult/easy it is to switch between suppliers?
16. Competitive -various goals and policies don't contradict each other
strategy is -Goals/Policies don't contradict realities of the macro environment
appropriate if: -Goals/Policies fit resources and capabilities available
-Goals/Policies are understood and implementable
