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16 Cards in this Set
- Front
- Back
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What is the difference between price management and cost management? |
Price management is the impact and knowing the benefit vs the risks. Cost management is what you can afford as part of your 4 P's. |
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What is the contribution margin? |
Price - variable costs |
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Break even analysis |
________________________________________ |
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Market Share |
Your company's sales percentage of the total market |
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what is strategy? |
a road map that shows you where you are, and where you are trying to get to. such as goals and objectives. it gives you an idea of how you are planning to get from here to there |
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What is a typical strategic plan for a company? |
The goal is typically long term profitability and growth. |
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Market Penetration |
Increase market share among existing customers |
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Market development |
attract new customers to existing products or expand into new markets |
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product development |
create new products for present markets |
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Diversification |
Introduce new products into new markets -can be difficult to manage |
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What are the 4 Ansoff growth strategy options |
1) market penetration 2) market development 3) product development 4) diversification |
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What are the 4 portfolio matrix strategies? |
1) Build 2) Hold 3) Harvest 4) Divest |
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How can you build? |
Invest for growth |
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How can you Hold? |
Retain position and share often with no new investments |
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How can you Harvest? |
"Milk" to maximize ST cash. Limited support |
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How can you divest? |
Dogs (if cash flow is negative) |
