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13 Cards in this Set
- Front
- Back
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Casuality |
X and Y vary with each other 1. A necessary but not sufficient condition for causality to exist
2. Change in one occurs after the change in the other (asymmetric respect of time)
3. Relationship not caused by a 3rd variable
4. Theoretically founded, determined with previous theory or hypothesis |
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Experiment |
A process used to test a casual hypothesis in which the researcher manipulates and controls one or more independent variables and observes and measures their effect on one or more dependent variables |
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Characteristics of experiments |
1. Casual hypothesis - statement that a variable influences another
2. Influence of one or more independent variables on one or more dependent are examined
3. Experimenter varies independent and controls extraneous variables |
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Experiments in Business |
Store test Product test Market testing |
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Competitor Analysis |
Competitor Customers Strategy Industry |
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Porter 5 Forces Analysis |
Analysis of Industry
Threat of entrants Threat of substitutes Power of suppliers Power of buyers |
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Boston Consulting Group BCG Matrix |
Relative Market Share vs Market Growth Rate
Stars Question Markets Cash Cows Dogs |
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Service Value Chain |
Service = Core service + additional
Additional "services of the services", added value to the whole service |
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Knowledge based Service |
Delivered by highly educated, informed employees
Respond to specific customer demand by offering, delivering customized value added solutions and relations |
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How to Price a Service |
Price of a Service - - - Market Competition - Perceived Value - Cost structure
*Must be consistent with company's overall strategy |
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Price Service : Market Competition |
What are the current prices adopted by competitors for similar ?
What is the substitutability of our service compared to others ? |
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Price Service : Cost Structure |
Revenues for the whole service must cover its variable costs |
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Price Service : Perceived Value |
Relates to individual feeling following the experience Values and personal satisfaction must be taken into account |
