Product development strategy
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a growth strategy that offers a new product or service to a firm's current
target market
Target marketing or targeting
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the process of evaluating the attractiveness of various segments and then
deciding which to pursue as a market
,Infrastructure
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the basic facilities, services, and installations needed for a community to
function such as transportation and communication systems, water and
power lines and public institutions such as schools and post offices
Boston Consulting Group Matrix
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a framework that classifies each product or product line within a firm's
"product portfolio"
X axis: relative market share (high low)
Y axis: market growth rate (high low)
1. Star: Ideal quadrant, high growth industry and high market share (invest &
grow)
2. Cash cow: maintain and milk, low growth rate but high market share
(Tide, Folger's, JIFs) redirect resources to high growth
3. Dog: low growth, low market share (drop or consolidate)
4. Question mark: high growth rate, low market share (need to figure out
why there is low market share?) (watch/hold)
Service recovery
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, restoring customer satisfaction to strongly dissatisfied customers
-listen to the customer and involve them in service recovery
-resolve problems quickly
-provide a fair solution
Exchange control
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refers to the regulation of a country's currency exchange rate
Locational excellence
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a method of achieving excellence by having a strong physical location
and/or internet presence
Gross National Income (GNI)
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consists of GDP plus the net income earned from investments abroad
(minus any payments made to nonresidents who contribute to the domestic
economy)
, Metric
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a measuring system that quantifies a trend, dynamic, or characteristic. Vary
depend on level of organization and resources the manager controls
Assessing global market
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-economic
-infrastructure and technology
-sociocultural analysis
-government actions
Knowledge gap
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a type of service gap; reflects the difference between customers'
expectations and the firm's perception of those expectations
Joint venture
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a growth strategy that offers a new product or service to a firm's current
target market
Target marketing or targeting
Give this one a try later!
the process of evaluating the attractiveness of various segments and then
deciding which to pursue as a market
,Infrastructure
Give this one a try later!
the basic facilities, services, and installations needed for a community to
function such as transportation and communication systems, water and
power lines and public institutions such as schools and post offices
Boston Consulting Group Matrix
Give this one a try later!
a framework that classifies each product or product line within a firm's
"product portfolio"
X axis: relative market share (high low)
Y axis: market growth rate (high low)
1. Star: Ideal quadrant, high growth industry and high market share (invest &
grow)
2. Cash cow: maintain and milk, low growth rate but high market share
(Tide, Folger's, JIFs) redirect resources to high growth
3. Dog: low growth, low market share (drop or consolidate)
4. Question mark: high growth rate, low market share (need to figure out
why there is low market share?) (watch/hold)
Service recovery
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, restoring customer satisfaction to strongly dissatisfied customers
-listen to the customer and involve them in service recovery
-resolve problems quickly
-provide a fair solution
Exchange control
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refers to the regulation of a country's currency exchange rate
Locational excellence
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a method of achieving excellence by having a strong physical location
and/or internet presence
Gross National Income (GNI)
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consists of GDP plus the net income earned from investments abroad
(minus any payments made to nonresidents who contribute to the domestic
economy)
, Metric
Give this one a try later!
a measuring system that quantifies a trend, dynamic, or characteristic. Vary
depend on level of organization and resources the manager controls
Assessing global market
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-economic
-infrastructure and technology
-sociocultural analysis
-government actions
Knowledge gap
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a type of service gap; reflects the difference between customers'
expectations and the firm's perception of those expectations
Joint venture
Give this one a try later!
