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20 Cards in this Set
- Front
- Back
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Functional strategy
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the approach a functional area takes to achieve corporate and business unit objectives and strategies by maximizing resource productivity
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Marketing strategy
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deals with pricing, selling and distributing a product
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Market development strategy
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Develop new uses and/or markets for current products
Capture a larger market share -Market saturation -Market penetration |
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Product development strategy
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provides the ability to:
Develop new products for existing markets Develop new products for new markets |
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Line extension
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using a successful brand name to market other products
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Push strategy
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promotions to gain or hold shelf space in retail outlets
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Pull strategy
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advertising to “pull” products through the distribution channels
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Skim pricing
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offers the opportunity to “skim the cream” from the top of the demand curve with a high price while the product is novel and competitors are few
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Penetration pricing
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attempts to hasten market development and offers the pioneer the opportunity to use the experience curve to gain market share with low price and then dominate the industry
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Financial Strategy
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examines the financial implications of corporate and business-level strategic options and identifies the best financial course of action.
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Research and Development Strategy
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deals with product and process innovation and improvement
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Technological leader
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pioneers innovation
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Technological follower
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imitates the products of competitors
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Open innovation
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use of alliances and connections with corporate, government, academic labs and consumers to develop new products and processes
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Operations (Production) Strategy
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determines how and where a product or service is to be manufactured, the level of vertical integration in the production process, the deployment of physical resources and relationships with suppliers.
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Human Resource Strategy
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relates to employee empowerment – meaning greater emphasis on caliber of workforce; increased Recruiting & Training
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Outsourcing
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purchasing from someone else a product or service that had been previously provided internally
-Avoid outsourcing distinctive competencies |
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Offshoring
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the outsourcing of an activity or a function to a wholly-owned company or an independent provider in another country
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Constructing Corporate Scenarios
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pro forma balance sheets and income statements that forecast the effect of each alternative strategy/its various programs will have on division and corporate return on investment
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Risk
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composed not only of the probability that the strategy will be effective but also of the amount of assets the corporation must allocate to the strategy and the length of time the assets will be unavailable for other uses
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