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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