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What kinds of strategies might: (a) a small pizza place operating in a crowded college market, and (b) a detergent manufacturer seeking to unveil new products in an established market use to strengthen their business models?
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- The use of management science in "market analysis". List three positive and negative outcomes from this application of management science.5. Direct-to-consumer businesses have had mixed success. That is, while the model has succeeded in some categories, it has not worked in others. Can you identify reasons why? Which product categories may be more suited for direct-to-consumer business model?Match each business model type with the correct description. Remember to select a different business model type for each description. Business model type Product business model Multisided business model Solution business model Matchmaking business model Description A company controls a platform where sellers and buyers exchange products or services. A product or service is designed according to specifics defined by each customer. A product or service is offered to customers. A company provides different products and services to different groups of clients who gain some benefit from the existence of the other group of clients.
- 4 A college in a metropolitan area wishes to increase its evening-school offerings of business-related courses such as marketing, accounting, finance, and management. Who are the target market cus- tomers (students) for these courses?In terms of environmental factors and risks, what type of strategies would provide value to the outcome a company?The best test of whether potential entry is a strong or weak competitive force is A) whether the industry's driving forces make it harder or easier for new entrants to be successful. B) the strength of buyer loyalty to existing brands. C) whether the strategies of industry members are well matched to the industry's key success factors. D) whether the industry offers an opportunity for a blue ocean strategy. E) to ask if the industry's growth and profit prospects are strongly attractive to potential entry candidates.
- Sustaining competitive advantage can be challenging. The entry of new competitors, the possibility of imitation, and the changes in the firm’s context can affect the firm’s profitability and, historically, have affected firms that had competitive advantage in very distinctive ways. For instance, Coke and Pepsi have sustained their market dominance for nearly a century. On the other hand, General Motors and Ford were hit hard by competition, in particular of foreign companies entering the market, and never fully recovered. What is different about the product/market situation in these cases that affects the sustainability of their competitive advantage? Which elements of the strategic landscape were responsible for Coke and Pepsi’s success and which elements were instrumental in GM and Ford losing an important share of the market?Your new company must plan for adaptability and alignment both internally and externally due to a crisis and other unexpected events, such as a mortgage crisis, a fire, IT system failure, loss of a major customer, loss of suppliers, union strikes, or terrorist attacks. How do you identify a crisis that Kibbles and Bits may experience, and explain how Kibbles and Bits would adapt and align in this crisis?Identify the correct option in each of the following statements below. Write down only the correct answer. 1) The (micro-environment / market environment) refers to the forces outside the business, such as consumers, competitors and suppliers. This environment can be influenced or partially controlled by management. 2) A (marketing mix/ marketing objective) can be defined as something the organisation wants to achieve over a set period of time.3) (Reseller / Consumer) markets refer to individuals and households who buy goods and services for personal consumption. 4) The interest rate in a country, which is an example of the (political / economic) environment, has a direct influence on consumer prices and spending. 5) (Strategic Marketing / Environmental scanning) is the careful gathering, processing, analysing and interpreting of an organisation’s internal and external environments to reveal tactical or strategic opportunities, threats, strengths and weaknesses and to determine how…
- 1. Outline the difference between a business idea and a business opportunity? Why is this distinction important? 2. Define business concept statement, in your own words. Outline its main elements. 1. Identify three (3) features of the Five Competitive Forces Model and discuss how they operate to affect the profitability of firms in an industry. 2. Describe a business start-up you are contemplating and explain why you have made this choice. 3. Identify and discuss the four (4) major components of a business feasibility analysis. 4. a) What is the purpose of conducting a business feasibility analysis? b) When is the best time to conduct a feasibility analysis? c) Justify your response.What are the benefits (strengths) and challenges (weaknesses) of a company whose products and brands are so tied up in one person’s image? Can you think of any other companies that have this same issue? What are the implications for the company’s strategic decision makers?Choose a Sports Business company in a particular field/environment (for this example we use Real Madrid CF). What are the changes this company is facing?
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