BUSM 2010 midterm Exam Questions With
Solutions
Target Market a particular group of consumers at which a product or service is aimed.
Utility Utility consists of the benefits or customer value received by users of the
product/service; it is what consumers pay for in an exchange transaction.
...
Target Market a particular group of consumers at which a product or service is aimed.
Utility Utility consists of the benefits or customer value received by users of the
product/service; it is what consumers pay for in an exchange transaction.
Is subjective
Types of Utility Form: refers to how well a product or service meets the customer's needs.
For example, a company might design a product to target a specific client's needs or wants
Possession: the amount of usefulness or perceived value from owning a product. For example,
owning a car or truck might be considered to have a high possession utility
Time: exists when a company maximizes the availability of a product so that customers can buy
it during the times that are the most convenient or desirable for them. For example, demand for
woolen clothes is more during winter as compared to demand in summer. So the utility of the
woolen clothes is more during winter than in any other season.
, BUSM 2010 midterm Exam Questions With
Solutions
Place:refers primarily to making goods or services physically available or accessible to potential
customers. Examples of place utility range from a retail store's location to how easy a company's
website or services are to find on the internet
strategy Strategy is a business' long-term plans (what we will do) made to achieve specific
goals (what we hope to accomplish).
The Organization (Why?) Values: What are our beliefs
Mission: What do we want to be
Culture: How will we act
Organizational Direction (What Business Are We In?) SBU AND PORTFOLIO
ANALYSIS: Determine the appeal of each SBU or offering and then determine the investment
strategy for each SBU
What business are we in?
What are our goals?
, BUSM 2010 midterm Exam Questions With
Solutions
Strategic Planning: 5 C's Analysis: Company, Customers, Competitors, Collaborators, and
Context
SWOT ANALYSIS: Strength and weaknesses (internal); opportunities and threat (external)
Diversification Analysis (Ansoff Matrix): a technique that helps a firm search for growth
opportunities from among current and new markets as well as current and new products
Global Economic Considerations -Consumer purchasing Power
-Economic Infrastructure
-Communications
-Transportation
-Financial
-Exchange rate volatility
The belief that regardless of quality, purchasing products from other countries is wrong; it's
unpatriotic.
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