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MBA 706 - DARRAT (EXAM 3) pt 2 questions and answers verified answers||Latest 2024/2025
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MBA 706 - DARRAT (EXAM 3) pt 2 questions and answers verified answers||Latest 2024/2025
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MBA 706 - DARRAT (EXAM 3) pt 2Targeting
process of identifying customers for whom the company will optimize its offering
Mass Marketing
the firm ignores segment differences and goes after the whole market with one offer
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Argument for mass marketing
creates largest potential market leading to lowest costs leading to lower prices leading higher
margins
Mass Customization
ability of a company to meet each customer's requirements—to prepare on a mass basis
individually designed products, services, programs, and communications
Target marketing
refers to which segments to go after - they sell different products to different segments
Strategic Targeting
focuses on customers whose needs the company can fulfill by ensuring that its offerings are
customized to their needs
,trading market size
strategic targeting - ignores some customers
Tactical Targeting
strive to reach all strategically important customers effectively and low cost
Factors of Target Compatibility
1. business
2. service
3. supply chain
4. scarce resources
5. skilled employees
6. tech expertise
7. intellectual property
8. strong brands
9. collaborator networks
Target Compatibility
outdo the competition in fulfilling the needs of target customers; to create superior customer
value
a function of the company's resources and its capacity to use these resources in a way that
creates value for target customers
Target Attractiveness
reflects the ability of a market segment to create superior value for the company. monetary and
strategic
collaborator networks
: include vertical networks of collaborators in the company's supply chain and horizontal
networks of research and development, manufacturing, and promotion collaborators that help
the company create its offering and inform customers about it.
strong brands:
enhance value by conferring unique identification on the offering and generating meaningful
associations that create value over and above the value created by the offering's attributes.
, intellectual property
patents and trade secrets.
technological expertise
expertise required to develop an offering that addresses a particular customer need, includes a
company's proprietary processes, its technological processes,
skilled employees
prime strategic assets
supply chain infrastructure
(procurement and processes), management infrastructure (company culture)
scarce resources
distinct competitive edge because it restricts the strategic options of competitors.
Service Infrastructure
call centers CRM
Business Infrastructure
manufacturing infrastructure (houses company's production facilities and equipment)
Core Competency
1) it is a source of competitive advantage and makes a significant contribution to perceived
customer benefits,
(2) it has applications in a wide variety of markets, and
(3) it is difficult for competitors to imitate.
Monetary Value
revenue from customers and cost to serve them
customer revenues
involve money received by the company from customers for the right to own or use its offering.
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