Mktg 641 - Op's And Problems - Exam 1

Front 1

Environmental changes

Back 1

are the roots of many business opportunities and problems. To succeed and stay successful, a company must continuously scan, analyze, and adapt to the ever-changing environment.

Front 2

5 enviromental forces

Back 2

1.social
2.economic
3.technolgocial
4.competitive
5.regulatory

Front 3

most business start out as

Back 3

stars-hold
cash cow-harvest
question mark-build
dog-divest...you must build if you are question mark to become a star

Front 4

Different ways for a company to grow and increase sales:

Back 4

1. Intensive growth – market penetration strategy, product development strategy,and market development strategy
2. Integrative growth – horizontal integration strategy, and vertical integration strategy
3. Diversification growth

Front 5

Professor Michael Porter has proposed three generic strategies that form a good starting point for strategic thinking

Back 5

1.cost leadership
2.focus
3.differentiation

Front 6

score

Back 6

has business plan templates taht we can use and download

Front 7

Planning is important, but it is not everything

Back 7

Good planning must be followed by good iplementation in order to achieve business success