Segmentation
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dividing a market into distance groups based on variables such as
behaviours, needs...
What % of new products fail and 3 reasons why
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, 70-90%
1. failure to meet needs and wants
2. lack of differentiation
3. fixing on a non-existent problem
Define service operations vs good production
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Service operations: produce non-physical outputs, simultaneous
production and consumption, consumer participated in the production
Goods production: produce physical goods, inventoried for later
consumption, production process removed from consumer
5 tools of promotion
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1. Advertising
2. PR
3. Sale promotion
4. Personal selling
5. Interactive direct/digital marketing
Define control/monitoring performance
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, Measure performance, identify gaps and compare objectives, determine
the cause for gaps, and take corrective action/adjust objectives.
What is strategic management?
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Process of effectively aligning the organization's goals and capabilities with
its external environment
List the 5 things to include in operations planning
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1. Capacity and planning: the amount that a firm can produce under normal
conditions
2. location planning: close to materials/customers
3. Layout planning: proc
What is middle management?
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Responsible for implementing decisions made by top managers.
Money supply high vs low
Give this one a try later!
dividing a market into distance groups based on variables such as
behaviours, needs...
What % of new products fail and 3 reasons why
Give this one a try later!
, 70-90%
1. failure to meet needs and wants
2. lack of differentiation
3. fixing on a non-existent problem
Define service operations vs good production
Give this one a try later!
Service operations: produce non-physical outputs, simultaneous
production and consumption, consumer participated in the production
Goods production: produce physical goods, inventoried for later
consumption, production process removed from consumer
5 tools of promotion
Give this one a try later!
1. Advertising
2. PR
3. Sale promotion
4. Personal selling
5. Interactive direct/digital marketing
Define control/monitoring performance
Give this one a try later!
, Measure performance, identify gaps and compare objectives, determine
the cause for gaps, and take corrective action/adjust objectives.
What is strategic management?
Give this one a try later!
Process of effectively aligning the organization's goals and capabilities with
its external environment
List the 5 things to include in operations planning
Give this one a try later!
1. Capacity and planning: the amount that a firm can produce under normal
conditions
2. location planning: close to materials/customers
3. Layout planning: proc
What is middle management?
Give this one a try later!
Responsible for implementing decisions made by top managers.
Money supply high vs low
