Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
23 Cards in this Set
- Front
- Back
Which system is: A Discipline that involves the management of people, process, and technology around the care of information?
|
MIS Management of information systems |
|
What are information systems? (IS) |
the combination of technology, people, and process that an organization uses to produce and manage information |
|
Competitive advantage is also called what? |
Differential advantage |
|
What are the 5 stages of industry evolution? |
introduction, growth, cost or shakeout, maturity, decline |
|
5 Drivers of the core value proposition: |
Idea Benefit Target Perception Outcome (reward) |
|
What is the PESTI model of the external environment? |
Political forces Economic forces Social forces Technological forces |
|
What are the 4 P's? |
Product, Price, promotion, place |
|
What is the pricing strategy |
Product is introduced at a low price in order to persuade customers to buy |
|
Product strategy |
choosing a brand name, packaging, colours, a warranty, accessories, and a service program |
|
Distribution strategy |
Creating the means by which a product is distributed |
|
Promotion strategy |
Covers personal selling, promotion, etc. |
|
5 critical success factors: |
financial performance meeting and exceeding customer needs providing value encouraging creativity gaining employee commitment |
|
What are porter's 5 forces that shape competition: |
The risk of new entry by potential competitors The degree of rivalry among established companies within an industry The bargaining power of buyers The bargaining power of suppliers The threat of substitute products |
|
Core competence: |
something a company does well |
|
distinctive competence: |
something a company does better than the competition |
|
3 ways channels ease the flow of goods |
Sorting out Accumulation Allocating |
|
3 types of market coverage |
exclusive selective intensive |
|
6 goals of promotion |
creating awareness getting customers to try the product providing information keeping loyal customers increasing use identifying target customers |
|
what is the promotional mix (4) |
advertising personal selling Sales promotions public relations |
|
what are the factors affecting the promotional mix |
Nature of the product market characteristics availiable funds push and pull |
|
What are the 6 logistical components? |
Sourcing and procurement Production scheduling Choosing warehouse location and type inventory control setting up a materials handling system making transportation decisions |
|
What are the 6 factors for logistical mode decisions? Which mode is best and worst for each factor? |
cost-air,water transit time-water,air reliability-pipe,water capability-water,pipe accessibility-truck,pipe traceability-air,pipe |
|
5 types of transit |
air, water, truck, pipe, rail |