MBA 706 test 1 study guide
Study online at https://quizlet.com/_alehwi
1. Choosing the value ___represents the "homework" marketers must do before any product
exists.
2. "segmentation, target- The formula which is the essence of strategic marketing.
ing, positioning (STP)"
3. Providing the value- Phase of Value Creation where marketing must determine specific product
features, prices, and distribution.
4. value chain. per Michael Porter the ___ is a tool for identifying ways to create more
customer value.
5. primary activities Below are the primary or secondary activities of the value chain?
(1) inbound logistics, (2) operations, or converting materials into final
products; (3) outbound logistics, or shipping out final products; (4) mar-
keting
6. secondary _—(1) procurement, (2) technology development, (3) human resource
management, and (4) firm infrastructure.
are ____ activities of the value chain
7. Core business process- activities which are necessary for the the survival of the firm.
es
8. core competency A ___ has three characteristics
1)It is a source of competitive advantage and makes a significant contri-
bution to perceived customer benefits
2)It has applications in a wide variety of markets
3)It is difficult for competitors to imitate
9. •It is a single business or collection of related businesses
1/7
, MBA 706 test 1 study guide
Study online at https://quizlet.com/_alehwi
SBU (strategic business
unit)
10. Strategic Business Unit a subgroup of a single business or a collection of related businesses
(SBU) within the larger organization
11. A distinct mission and An SBU has...
specific target market
Control over its re-
sources
Its own competitors
Plans independent of
other SBUs
12. Market penetration market ___ increases market share among existing customers
13. Market development Market ____ is; attracting new customers to existing products
14. Diversification ___ is introducing new products into new markets
15. Corporate culture the shared experiences, stories, beliefs, and norms that characterize an
organization
16. Internal environment Controllable elements inside of an organization (human capital, organi-
zational culture-Google, financial stability, corporate reputation, quality
products, brand strength, etc.)
These elements represent key strengths and weaknesses of the firm
17. •Situation analysis •An assessment of a firm's internal and external environments
18. External environment •Uncontrollable elements outside of an organization that may affect its
performance either positively or negatively (economy, competition, tech-
nology, political unrest, etc.) (Greece)
2/7
Study online at https://quizlet.com/_alehwi
1. Choosing the value ___represents the "homework" marketers must do before any product
exists.
2. "segmentation, target- The formula which is the essence of strategic marketing.
ing, positioning (STP)"
3. Providing the value- Phase of Value Creation where marketing must determine specific product
features, prices, and distribution.
4. value chain. per Michael Porter the ___ is a tool for identifying ways to create more
customer value.
5. primary activities Below are the primary or secondary activities of the value chain?
(1) inbound logistics, (2) operations, or converting materials into final
products; (3) outbound logistics, or shipping out final products; (4) mar-
keting
6. secondary _—(1) procurement, (2) technology development, (3) human resource
management, and (4) firm infrastructure.
are ____ activities of the value chain
7. Core business process- activities which are necessary for the the survival of the firm.
es
8. core competency A ___ has three characteristics
1)It is a source of competitive advantage and makes a significant contri-
bution to perceived customer benefits
2)It has applications in a wide variety of markets
3)It is difficult for competitors to imitate
9. •It is a single business or collection of related businesses
1/7
, MBA 706 test 1 study guide
Study online at https://quizlet.com/_alehwi
SBU (strategic business
unit)
10. Strategic Business Unit a subgroup of a single business or a collection of related businesses
(SBU) within the larger organization
11. A distinct mission and An SBU has...
specific target market
Control over its re-
sources
Its own competitors
Plans independent of
other SBUs
12. Market penetration market ___ increases market share among existing customers
13. Market development Market ____ is; attracting new customers to existing products
14. Diversification ___ is introducing new products into new markets
15. Corporate culture the shared experiences, stories, beliefs, and norms that characterize an
organization
16. Internal environment Controllable elements inside of an organization (human capital, organi-
zational culture-Google, financial stability, corporate reputation, quality
products, brand strength, etc.)
These elements represent key strengths and weaknesses of the firm
17. •Situation analysis •An assessment of a firm's internal and external environments
18. External environment •Uncontrollable elements outside of an organization that may affect its
performance either positively or negatively (economy, competition, tech-
nology, political unrest, etc.) (Greece)
2/7
