LSUS MBA 706 Exam 1
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1. Marketing: The activity, set of institutions, and processes for creating, communicating, delivering, and
exchange- Ing utterings that have value for customers, clients, partners, and society at large.
2. Marketing Strategy: A long-term plan that consists of activities of selecting target markets and designing
marketing mixes to satisfy the wants and needs of the selected markets.
3. Factors to consider when developing a marketing strategy: -Market drivers
-Resources and skills available to companies
-Strategic windows
-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 Theory of Competitive Advantage: -External environment is constantly
changing
-internal factors, like resources and capabilities otter a more stable basis to define strategy
-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 change: - Development of new primary demand
- New competing technologies
- Market redefinition
- Channel changes
9. Industry Lifecycle: A company's strategy is attested by this:
-Introduction
-Growth
1/9
, LSUS MBA 706 Exam 1
Study online at https://quizlet.com/_fdkgb8
-Maturity
-Decline
10. Can be used to assess market competitiveness: Porter's Five Forces
2/9
Study online at https://quizlet.com/_fdkgb8
1. Marketing: The activity, set of institutions, and processes for creating, communicating, delivering, and
exchange- Ing utterings that have value for customers, clients, partners, and society at large.
2. Marketing Strategy: A long-term plan that consists of activities of selecting target markets and designing
marketing mixes to satisfy the wants and needs of the selected markets.
3. Factors to consider when developing a marketing strategy: -Market drivers
-Resources and skills available to companies
-Strategic windows
-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 Theory of Competitive Advantage: -External environment is constantly
changing
-internal factors, like resources and capabilities otter a more stable basis to define strategy
-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 change: - Development of new primary demand
- New competing technologies
- Market redefinition
- Channel changes
9. Industry Lifecycle: A company's strategy is attested by this:
-Introduction
-Growth
1/9
, LSUS MBA 706 Exam 1
Study online at https://quizlet.com/_fdkgb8
-Maturity
-Decline
10. Can be used to assess market competitiveness: Porter's Five Forces
2/9
