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;
43 Cards in this Set
- Front
- Back
|
Mission |
Who we are. Purpose of the company. |
|
|
Vision |
What we want to become. Aspirational sentence about the direction and impact of the company It can change over time |
|
|
Values |
Ethical principles, beliefs or qualities that creates company's culture and way to behave for the people working for it |
|
|
Strategy |
Set of guiding principles that needs to be communicated and adopted in the org, so it creates a desired pattern of decision making How company intends to achieve its vision |
|
|
Business strategy + ref |
Sustainable competitive advantage (over its competitors) Kenichi Ohmae, The mind of a manager (1983) |
|
|
Canva business model |
Customer segment Value proposition Channels Customer relationship Revenue stream (one off, recurring) Key resources Key activities Key partners (strategic alliance, coopetition, joint venture, customer supplier relationship) Cost structure (fixed, variable, eco of scale, field eco) |
|
|
5 phase segmentation process |
1. Segmentation criteria 2. Attractiveness of each segment 3. Sgmentation strategy (choose target segment) 4. Buyer persona / target audience 5. Brand positioning |
|
|
Segmentation criteria |
Find differences in consumption patterns Homogeneous According to: - demographic (age, sex, marital status, profession, education, purchasing power...) - geographical - Lifestyle (hobby, taste) - behaviour (level of use and loyalty, frequency, disposition, attitude) |
|
|
5 forces model |
Bargaining power of suppliers Bargaining power of buyers Threat of new entrants Threat of substitutes Competitive rivalry Analyse competitive environment (Stanford Uni 1965) |
|
|
Positioning map |
Perceptual map - > Mention relevant product, brand and segment 3 methods: multi dimensional scaling, factor or joint space analysis |
|
|
Multi dimensional scaling |
Mathematical technique > quantitative analysis of perception of similarities |
|
|
Soft attribute |
Emotional and subjective Ex: young, sporty... |
|
|
Hard attribute |
Objective and measurable Ex: strenght, speed... |
|
|
Attribute analysis |
Decide relevant attributes to analyse consumer perception |
|
|
Joint space analysis |
Consumer perception and ideal positioning are jointly shown |
|
|
Objective perceptual map |
Customer analysis : their perception Competitive : know market Product : find gap in market |
|
|
.... are more difficult to imitate than resources |
Capabilities - > competitive advantage |
|
|
Resources |
What you have, tangible or intangible Asset or input to production than org owns |
|
|
Capabilities |
How you use it, operational and dynamic
Ability to perform coordinated set of tasks |
|
|
4 sources of competitive advantage |
Switching costs Network effect Intangible asset Cost leadership |
|
|
Michael Porter 4 generic strategies |
|
|
|
Cost leadership |
Low cost producer How? Eco of scale, preferential access to raw materials, proprietary techno |
|
|
Differentiation |
Unique in industry according criteria valued by consumer Premium price |
|
|
Focus |
Narrow competitive scope Niche market: cost or differentiation |
|
|
Diagnose and manage strategic capability |
V aluable R are I nimitable O rganized |
|
|
Is it possible to have several sustainable competitive advantage? |
Yes |
|
|
Types of resources and capabilities |
Financial Human Material Non material |
|
|
VRIO |
|
|
|
Competition equation |
Sales = Price * Quality * Frequency * Market penetration |
|
|
Price (equation) |
Average price of product during period of time -> Current consumers |
|
|
Quantity (equation) |
How many consumer buys -> Current consumers |
|
|
Frequency (equation) |
N° of times they would buy it in this period of time -> Current consumers |
|
|
Market penetration (equation) |
% of households who have bought product at least once a year -> Attract new consumers |
|
|
4 levels of strategy |
01 Corporate 02 Business 03 Functional 04 Operational |
|
|
Obj corporate strategy |
Growth (market penetration/market dev/product dev/diversification strategies) Stability Renewal |
|
|
Business strategy |
Strenghten the competitive position |
|
|
Functional strategy |
Reach goals and maximize productivity of each department |
|
|
Operational strategy |
For each department |
|
|
Blue vs red ocean space |
Red: compete in existing market, beg for consumer attention and slow or stagnant growth Blue: free from compet, unique approach and capture new demand |
|
|
Types of segmentation strategies |
Mass marketing Differentiated marketing Customized marketing Focused marketing |
|
|
Competitive advantage |
Company's attribute to outperform its competitors |
|
|
Goals |
How we measure success |
|
|
Macro environment VUCA |
V olatility U certainity C omplexity A mbiguity |
