Class notes
Comprehensive Marketing Notes
- Course
- MK323 (MK323)
- Institution
- Boston University
Comprehensive marketing study guide, from a whole marketing class taken at BU. Covers all the major topics in Marketing Management
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Available practice questions
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Some examples from this set of practice questions
1.
Operational effectiveness is...?
Answer: Refers to the extent to which you perform similar activities better than rivals
2.
Strategy refers to...?
Answer: performing different activities from rivals or performing them in different ways
3.
Business Unit Strategy refers to..?
Answer: decisions about how a firm will compete in its various activities
4.
What are the 5 factors in Porter\'s 5 forces?
Answer: Power of suppliers Power of buyers Threat of substitutes Threat of new entry Rivalry
5.
What is a switching cost?
Answer: Describes the costs that customers must bear when they try to switch from one product to another
6.
What are some aspects of Cost Leadership Strategy?
Answer: Deliver an OK product at lowest possible cost Must maintain proximity in quality Invest in assets to lower operating expenses
7.
What are some aspects of Differentiation strategy?
Answer: Offer products or services widely acknowledged as superior in quality in at least one dimension Selectively incur costs as necessary to create quality
8.
What is \"market power\" in an economic setting?
Answer: Means the ability to raise prices without losing all customers
9.
What are the 7S\'s?
Answer: Structure Strategy Systems Skills Staff Style
10.
What are the 4 basic structural forms (in reference to the 7S model)?
Answer: Functional Divisional Matrix Network
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