Koofers

Exam 2 - Flashcards

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Class:MKT 3343 - PRIN OF MARKETING
Subject:Marketing
University:Texas State University - San Marcos
Term:Fall 2010
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      Mode:   CARDS LIST       ? pages   PRINT EXIT
Acquisition The purchase of a company by another company. pg.216
Analyzers Companies using an adaptive strategy that seeks to minimize risk and maximize profits by following or imitating the proven successes of prospectors. pg.226
Attack A competetive move designed to reduce a rival's market share or profits. pg.230
Bargaining Power of Suppliers A measure of the influence that suppliers of parts, materials, and services to firms in an industry have on the prices of these inputs. pg.224
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Bargaining Power of Buyers A measure of the influence that customers have on a firm's prices. pg.224
BCG Matrix A portfolio strategy, developed by the Boston Consulting Group, that categorizes a corporation's businesses by growth rate and relative market share, and helps managers decide how to invest corporate funds. pg.217
Cash Cow A company with a large share of a slow-growing market. pg.217
Character of the Rivalry A measure of the intensity of competitive behavior between companies in an industry. pg.223
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Competetive Advantage Providing greater value for customers than competitors can. pg.203
Competetive Inertia A reluctance to change strategies or competetive practices that have been successful in the past. pg.206
Core Capabilities The internal decision-making routings, problem solving pricesses, and organizational cultures that determine how efficiently inputs can be turned into outputs. pg.208
Core Firms The central companies in a strategic group. pg.210
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Corporate-Level Strategy The overall organizational strategy that addresses the question "What business or businesses are we in or should we be in?" pg.215
Cost Leadership The positioning strategy of producing a product or service of acceptable quality at consistently lower production costs than competetitors can, so that the firm can offer the product or service at the lowest price in the industry. pg.224
Defenders Companies using an adaptive strategy aimed at defending strategic positions by seeking moderate, steady growth and by offering a limited range of high-quality products and services to a well-defined set of customers. pg.226
Differentiation The positioning strategy of providing a product or service that is sufficiently different from competitor's offerings that customers are willing to pay a premium price for it. pg.225
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Direct Competition The rivalry between two companies that offer similar products and services, acknowledge each other as rivals, and act and react to each other's strategic actions. pg.228
Distinctive Competence What a company can make, do, or perform better than its competitors. pg.208
Diversification A strategy for reducing risk by buying a variety of items (stocks or businesses) so that the failure of one stock or one business does not doom the entire portfolio. pg.216
Dog A company with a small share of a slow-growing market. pg.217
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Entreprenuerial Orientation The set of processes, practices, and decision-making activities that lead to new entry, characterized by five demensions: risk taking, autonomy, innovativeness, proactiveness, and competetive aggressiveness. pg.232
Entrepreneurship The process of entering new or established markets with new goods or services. pg.231
Firm-Level Strategy A corporate strategy that addresses the question "How should we compete against a particularfirm?" pg.228
Focus Strategy The positioning strategy of using cost leadership or differentiation to produce a specialized product or service for a limited, specially targeted group of customers, in a particular geographic region or market segment. pg.225
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Grand Strategy A broad corporate-level strategic plan used to achieve strategic goals and guide the strategic alternatives that managers of individual businesses or subunits may use. pg.220
Growth Strategy A strategy that focuses on increasing profits, revenues, market share, or the number of places in which the company does business. pg.220
Imperfectly Imitable Resource A resource that is impossible or extremely costly or difficult for other firms to duplicate. pg.204
Industry-Level Strategy A corporate strategy that addresses the question "How should we compete in this industry?" pg.222
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Intrapreneurship Entreprenuership within an existing organization. pg.232
Market Commonality The degree to which two companies have overlapping products, services, or customers in multiple markets. pg.228
Nonsubstitutable Resource A resource that produces value or copmetetive advantage and has no equivalent substitutes or replacements. pg.205
Portfolio Strategy pg.216
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Prospectors pg.226
Question Mark pg.217
Rare Resource pg.204
Reactors pg.227
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Recovery pg.221
Related Diversification pg.219
Resource Similarity pg.228
Resources pg.203
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Response pg.230
Retrenchment Strategy pg.221
Secondary Firms pg.211
Shadow-Strategy Task Force pg.212
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Situational (SWOT) Analysis pg.207
Stability Strategy pg.221
Star pg.217
Strategic Dissonance pg.207
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Strategic Group pg.210
Strategic Reference Points pg.210
Sustainable Competetive Advantages pg.203
Threat of New Entrants pg.223
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Threat of Substitute Products or Services pg.223
Transient Firms pg.211
Unrelated Diversification pg.217
Valuable Resources pg.204
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 AcquisitionThe purchase of a company by another company. pg.216
 AnalyzersCompanies using an adaptive strategy that seeks to minimize risk and maximize profits by following or imitating the proven successes of prospectors. pg.226
 AttackA competetive move designed to reduce a rival's market share or profits. pg.230
 Bargaining Power of SuppliersA measure of the influence that suppliers of parts, materials, and services to firms in an industry have on the prices of these inputs. pg.224
 Bargaining Power of BuyersA measure of the influence that customers have on a firm's prices. pg.224
 BCG MatrixA portfolio strategy, developed by the Boston Consulting Group, that categorizes a corporation's businesses by growth rate and relative market share, and helps managers decide how to invest corporate funds. pg.217
 Cash CowA company with a large share of a slow-growing market. pg.217
 Character of the RivalryA measure of the intensity of competitive behavior between companies in an industry. pg.223
 Competetive AdvantageProviding greater value for customers than competitors can. pg.203
 Competetive InertiaA reluctance to change strategies or competetive practices that have been successful in the past. pg.206
 Core CapabilitiesThe internal decision-making routings, problem solving pricesses, and organizational cultures that determine how efficiently inputs can be turned into outputs. pg.208
 Core FirmsThe central companies in a strategic group. pg.210
 Corporate-Level StrategyThe overall organizational strategy that addresses the question "What business or businesses are we in or should we be in?" pg.215
 Cost LeadershipThe positioning strategy of producing a product or service of acceptable quality at consistently lower production costs than competetitors can, so that the firm can offer the product or service at the lowest price in the industry. pg.224
 DefendersCompanies using an adaptive strategy aimed at defending strategic positions by seeking moderate, steady growth and by offering a limited range of high-quality products and services to a well-defined set of customers. pg.226
 DifferentiationThe positioning strategy of providing a product or service that is sufficiently different from competitor's offerings that customers are willing to pay a premium price for it. pg.225
 Direct CompetitionThe rivalry between two companies that offer similar products and services, acknowledge each other as rivals, and act and react to each other's strategic actions. pg.228
 Distinctive CompetenceWhat a company can make, do, or perform better than its competitors. pg.208
 DiversificationA strategy for reducing risk by buying a variety of items (stocks or businesses) so that the failure of one stock or one business does not doom the entire portfolio. pg.216
 DogA company with a small share of a slow-growing market. pg.217
 Entreprenuerial OrientationThe set of processes, practices, and decision-making activities that lead to new entry, characterized by five demensions: risk taking, autonomy, innovativeness, proactiveness, and competetive aggressiveness. pg.232
 EntrepreneurshipThe process of entering new or established markets with new goods or services. pg.231
 Firm-Level StrategyA corporate strategy that addresses the question "How should we compete against a particularfirm?" pg.228
 Focus StrategyThe positioning strategy of using cost leadership or differentiation to produce a specialized product or service for a limited, specially targeted group of customers, in a particular geographic region or market segment. pg.225
 Grand StrategyA broad corporate-level strategic plan used to achieve strategic goals and guide the strategic alternatives that managers of individual businesses or subunits may use. pg.220
 Growth StrategyA strategy that focuses on increasing profits, revenues, market share, or the number of places in which the company does business. pg.220
 Imperfectly Imitable ResourceA resource that is impossible or extremely costly or difficult for other firms to duplicate. pg.204
 Industry-Level StrategyA corporate strategy that addresses the question "How should we compete in this industry?" pg.222
 IntrapreneurshipEntreprenuership within an existing organization. pg.232
 Market CommonalityThe degree to which two companies have overlapping products, services, or customers in multiple markets. pg.228
 Nonsubstitutable ResourceA resource that produces value or copmetetive advantage and has no equivalent substitutes or replacements. pg.205
 Portfolio Strategypg.216
 Prospectorspg.226
 Question Markpg.217
 Rare Resourcepg.204
 Reactorspg.227
 Recoverypg.221
 Related Diversificationpg.219
 Resource Similaritypg.228
 Resourcespg.203
 Responsepg.230
 Retrenchment Strategypg.221
 Secondary Firmspg.211
 Shadow-Strategy Task Forcepg.212
 Situational (SWOT) Analysispg.207
 Stability Strategypg.221
 Starpg.217
 Strategic Dissonancepg.207
 Strategic Grouppg.210
 Strategic Reference Pointspg.210
 Sustainable Competetive Advantagespg.203
 Threat of New Entrantspg.223
 Threat of Substitute Products or Servicespg.223
 Transient Firmspg.211
 Unrelated Diversificationpg.217
 Valuable Resourcespg.204
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