MKTG 524 - Stewart
4 Components of a Competitive Analysis - correct answer-Price, Product, Place, Promotion
Knowing your market, Knowing your product, Being sure of your performance and aware of
competition, and Promoting your product
Customer Value Hierarchy - correct answer-Desired States
^
Situational Consequences
^
Product/Service attributes
Customer Satisfaction happens at each individual level
Define Customer Satisfaction - correct answer-The extent to which a product's perceived
performance matches against the buyer's expectations and perceived discomforts which
then produces satisfied outcomes
Environmental Analysis (4 Trends) - correct answer-Customer Trends (Demographic,
Cultural, and Sustainability - how long will the customer be in the market
Business and Industry Trends
Government and Policy Trends (Combat inflation but wars around, other countries)
Economic Trends (Interest rates)
How would you use customer satisfaction and the customer value hierarchy together? -
correct answer-Customer Satisfaction happens at each individual level of the Customer
Value Hierarchy
Product attributes - Product attribute satisfaction
Situational Consequences - Use Consequence satisfaction
Desired End States - Customer Goal/Purpose Satisfaction
Porter's Five Forces Model (Profitability Analysis) - correct answer-A model for analyzing the
competitive forces within the environment in which a company operates, to assess the
potential for profitability in an industry. (Competition Among Existing Firms, Threats of
Substitute Products, Bargaining Power of Customers, Bargaining Power of Suppliers,
Threats of Potential Entrants)
Role of External Analysis - correct answer--identification (identify trends/future events,
threats and opportunities, and strategic uncertainties)
4 Components of a Competitive Analysis - correct answer-Price, Product, Place, Promotion
Knowing your market, Knowing your product, Being sure of your performance and aware of
competition, and Promoting your product
Customer Value Hierarchy - correct answer-Desired States
^
Situational Consequences
^
Product/Service attributes
Customer Satisfaction happens at each individual level
Define Customer Satisfaction - correct answer-The extent to which a product's perceived
performance matches against the buyer's expectations and perceived discomforts which
then produces satisfied outcomes
Environmental Analysis (4 Trends) - correct answer-Customer Trends (Demographic,
Cultural, and Sustainability - how long will the customer be in the market
Business and Industry Trends
Government and Policy Trends (Combat inflation but wars around, other countries)
Economic Trends (Interest rates)
How would you use customer satisfaction and the customer value hierarchy together? -
correct answer-Customer Satisfaction happens at each individual level of the Customer
Value Hierarchy
Product attributes - Product attribute satisfaction
Situational Consequences - Use Consequence satisfaction
Desired End States - Customer Goal/Purpose Satisfaction
Porter's Five Forces Model (Profitability Analysis) - correct answer-A model for analyzing the
competitive forces within the environment in which a company operates, to assess the
potential for profitability in an industry. (Competition Among Existing Firms, Threats of
Substitute Products, Bargaining Power of Customers, Bargaining Power of Suppliers,
Threats of Potential Entrants)
Role of External Analysis - correct answer--identification (identify trends/future events,
threats and opportunities, and strategic uncertainties)
