Please enable JavaScript.
Coggle requires JavaScript to display documents.
Big ideas in organisations (Raising Finance (Equity finance (Ordinary…
Big ideas in organisations
Focusing an offering
Markets
Segmentation
Figure 2 Defra's seven population segments
Harris, F (2018) Readings: Block 1 pg. 38
Variables
Demographic
Geographic
Psychographic
Behavioural
Targeting
Types:
Undifferentiated
Differentiated
Concentrated
Customised
Positioning
Successful positioning factors:
Clarity
Consistency
Credibility
Competitiveness
Marketing Mix
7ps
3ps - Services and non profit
Process
Physical evidence
People
People:
provide service element
influence buyers
under or over selling
Physical evidence:
Opportunity to differentiate
Represents brand
Provides tangibility to service offering
Process:
Efficiency of service
Alternative processes for customers
4ps
Product
Place
Promotion
Price
Place
Choosing the right channel:
Level of service
Company size
Product type
Competitors
Environmental factors
Collaborative distribution:
Co loading
back haul
Physical internet
Continuous move routing
Pricing
Types:
Cost based
Competitor based
Customer base
Kotler & Armstrong's product mix pricing:
Product line
Optional product
Captive product
By product
Promotion
Table 1 key feature of marketing communication techniques ( jobber & Ellis Chadwick, 2013, pp. 514-5; Dibb et al., 2016, p. 476) cited in Harris, F (2018) p 56
Product
Readings block 1 (2018) Crawford's 1991 five step basic new products process Pg 50
Product benefit levels
:
Augmented
Core
Actual
Main types
:
Convenience
Shopping
Speciality
Unsought
Failure or success of product
Reasons for failure:
Overestimation of market size
Poor product design
Reasons for success:
Unique superior product
Well executed launch
Operations
Operations Management
The operations input- process- output model Pg. 90
Processes
:
Material
Information
Customer
Transformational change
:
Physical
Informational
Possession
location
Storage
Physiological/psychological
Operation managers:
reduce costs through operations
enhancing revenues
minimising capital
Developing capabilities/competencies
Operations strategy
Performance objectives
Figure 6 Polar representation of performance objectives
Walley, P (2018) Readings: Block 1 Pg. 109
Quality
Speed
Flexibility
Sustainability
Dependability
Cost
Market influence model for operations strategy development
Practice operations focused by
:
Market segment
concentrating on one performance objective
Volume
Technology speciality
Design
Product and service
Design process
Slack et al. (2011) Five steps of design process:
Concept generation
Concept screening
Preliminary design
Evaluation and improvement
prototyping and final design
Quality function deployment (QFD matrix)
Reasons for new product failure:
Launched too soon
Company cannot support growth
insufficient market appeal
Lack of product understanding
No market
New product development categories
:
Incremental enhancement of existing products
New generation products
-Breakthrough products
Product design factors -
Aesthetics
Reliability
Maintainability
Durability
Produce-ability
Johnston and Clark (2005)'s five elements of service concept:
Organising the idea
service experience
service outcome
service operation
value of the service
Design Process:
Understanding the design factors
Process choice
Layout choice
Detailed design
Design factors = Volume, Variety, Variation and visability
Process choice = Project, Jobbing, Batch, Mass and Continuous
Layout choice = Fixed position, Functional, Product, Hybrid and mixed
Design questions:
Comfortable?
Easily cleaned and maintained?
-Efficiently used?
Accessible and useable?
Design thinking
Six principles: Reframe ideas, understand the user, no idea is too wild, collaborative. test your ideas and see the bigger picture.
Raising Finance
Venture capital and private equity
Leasing
Debt factoring
Retained earnings
Working Capital management
Bank facilities and overdrafts
Equity finance
Ordinary shares
Preference shares
External business environment
Globalisation
International trade
STEEPLE
Dimensions
Economic
Technological factors
Environment (ecological) factors
Social/cultural factors
Legal factors
Macroeconomic environment
Ethical factors
Microeconomic environment
Political factors
Actions of government
change of government
Major political events
Growth potential
International trade
Trade reforms
Trade policies - World trade organisation
Outsourcing
Reasons to outsource
:
Reduce costs
Improve focus
Increase variable cost element
Access to skills
Grow revenue
Improve quality
Conserve capital
Innovative
Offshoring risks:
Distance
Currency
Legal system
political or economic instability
Quality and reliability of service
Language and culture
Damage to the brand
Marketing
Marketing research
Key stages
:
Research planning
Exploratory research
Redefining the research design
Main research collection
Analysis & interpretation
Reporting of findings
Types of data
:
Qualitative (Text or verbal)
Quantitative (Numerical)
Ethics
misuse of data for own benefit
Privacy, protecting research participants
Safeguarding personal data
UK's MRS's code of conduct
AMA's code of ethics
Marketing environment
Micro environment
Immediate environment that effects organisation
Customers
Marketing intermediaries
Suppliers
Competitors
Publics
Macro environment
External factors
economic
environmental
Technological
political
Social
legal
Ethical
Advantage and position
Porter's strategies for competitive advantage
Porters five forces
Strategic objectives and focus
Ansoff's growth matrix
Market penetration
Market development
Product development
Diversification
Marketing concept
Marketing process
Organisations mission, vision and values
Analysis of the market
Strategy selection
Formulation of offering
Implementation, monitoring and evaluation
The marketing function responsibilities:
Exchange process is positive experience
Managing brand
Objective align with values
Monitoring and analysing market
Target market
Opportunities and resources
Strategic windows
Capabilities and assets
Environmental scanning
Mission, vision and values
Wilson and Gilligan's six tests
be specific
fulfilling customers needs and satisfaction
organisations key skills
opportunities and threats
Achievable
Adaptable
Marketing and operations coordination
Conflict areas
:
Capacity planning
Scheduling
Stock control
Breadth of range
New products