College aantekeningen
COLLEGE AANTEKENINGEN BMO21306 (ALLES WAT JE MOET WETEN)
Alles wat je moet weten, ik had zelf een 8!
[Meer zien]Voorbeeld 2 van de 10 pagina's
Voorbeeld 2 van de 10 pagina's
In winkelwagengesponsord bericht van onze partner
Verkoper
Volgen
Voorbeeld van de inhoud
Advanced Management & MarketingLecture 1 Introducing Strategy
Good strategy: compromise, competitive success vs corporate strategy
Strategy decisions are likely to be complex, uncertain, affect daily decisions, integrated
approach, considerable change
Strategy: long term direction of the organization
Three horizons for strategy: 1. Extend and defend core business (short) 2. Build emerging
businesses (mid) 3. Create viable options (long)
Strategy is to define & express the motivating purpose of an organization to stakeholders
Motivating purpose: mission statement (why is the company existing) + vision statement
(what do you want to achieve in future) + statements of corporate values (principles, do not
change) + statement of objectives (outcomes that are to be achieved)
Goals (vision, mission, objectives) + scope (domain of the organization’s activities -> who,
where, how much ourselves) + advantage (competitive advantage)
Levels of strategy: corporate level (overall scope of an organization + how value is added to
business units) + business-level (competitive strategy, particular market) + functional
strategy (managing resources, processes, and people)
Exploring strategy: strategic position (environment + stakeholder + capability) + strategic
choices (directions and methods) + strategy in action (put into practice, leadership etc.)
Lecture 2 Marketing 1
Strategic marketing -> choose the value
Tactical marketing -> provide the value + communicate the value
Differentiation: creating differences between focal offering and its main competitors
Positioning: differentiating in the minds of target customers
Levels of competition: product form (brand is better than other) + product category
(product form is best in category) + generic (satisfy needs the best) + budget (most
appropriate way to spend money)
Brand switching analysis -> switching matrix (from current to future)
Standardized residual: (O-E)/ squared root E
Standardized residual > 1.96 in absolute value is significant. Positive = loyal customers
Lecture 4 The Business Environment & Industry and sector analysis
Societal influences macro -> PESTEL: Political Economic Social Technological
Ecological/Environmental Legal -> future impact + different impact
Political factors: role of state, exposure to civil society organizations, governmental political
development
Economic factors: business cycles, interest rates, personal disposable income, exchange
rates. Vulnerable to economic cycles -> discretionary spend industries (about savings ->
housing, cars) + high fixed cost industries (airlines + hotels sector)
Social factors: demographics, wealth distribution, geography, culture, social networks
Technological factors: new discoveries and technology developments
Legal factors: labor & consumer regulations, taxation & reporting requirements, rules on
ownership, foreign trade regulations, competition regulations
, Forecasting in conditions of uncertainty: PESTEL factors help, accurate forecasting is very
difficult -> single-point forecast (one outcome) + range forecast (likeliness of certain
outcomes) + alternative futures (multiple exclusive outcomes)
Scenario process: define scope -> identify key drivers (PESTEL factors)-> develop instinct
scenario stories (plausible, alternative views of future) -> identify impacts -> monitor
progress
An industry is a group of firms producing products and services that are essentially the same
(supply side, automobiles, or airlines)
A market is a group of customers for specific products or services that are essentially the
same (demand side, market for luxury cars in Germany)
Industry analysis: define industry -> identify actors of each of the five forces -> determine
underlying factors -> asses overall industry structure & attractiveness -> determine how to
position
Porter’s 5-forces frameworks: threat of entry + threat of substitutes + bargaining power of
buyers + bargaining power of suppliers + extent of rivalry between competitions
5 forces are high -> less attractive for lacking profit potential
Bargaining power of buyers high: buyers are concentrated, have low switching costs, can
supply their own inputs, lower buyer profits & low impact on their quality
Bargaining power of suppliers high: suppliers are concentrated, switching costs are high for
focal firm, suppliers can integrate forward, provide a specialist or rare input
Backed integration: replacing the supplier by doing it on your own
Threat of substitutes: similar benefit but have a different nature from outside the industry.
High when price/performance ratio is better, substitute benefits from an innovation, extra-
industry effects
Threat of entry: factors that need to be overcome by new entrants if they are to compete ->
economies of scale, access to supply channels, differentiation, government restrictions
Threat of potential entrants (low) is inverse to barriers against entrants (high)
Rivalry between existing competition: similar products, same customer, same
industry/market -> depends on competitor concentration & balance, industry growth rate
Product life cycle: introduction (low sales, high costs) -> growth (increasing sales, reducing
costs) -> maturity (constant sales, reducing costs) -> decline (reducing sales, constant costs)
Company life cycle: concept creation -> concept development -> market development ->
business optimization -> re-inventing business / harvesting
Industry life cycle: development (low rivalry) -> growth (low rivalry) -> shake out (increasing
rivalry) -> maturing (strong buyers) -> decline (extreme rivalry)
Technology/marketing adoption cycle: innovators -> early adopters (chasm in between) ->
early majority -> late majority -> laggards
Strategic groups: organization within an industry with similar strategic characteristics,
following similar strategies of competing on similar bases (you want to know everything of
them)
Understanding competition (rather than whole industry) -> analyze strategic opportunities
(strategic spaces) -> analysis of mobility barriers (can be overcome or can be build)
Lecture 5 Marketing 2
Market segmentation: the subdividing of a market into distinct subsets of customers
Segments: members are different between segments but similar within
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper isavbergen. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €3,99. Je zit daarna nergens aan vast.
Is Stuvia te vertrouwen?
4,6 sterren op Google & Trustpilot (+1000 reviews)
Afgelopen 30 dagen zijn er 56326 samenvattingen verkocht
Opgericht in 2010, al 14 jaar dé plek om samenvattingen te kopen