Commoditization - Study guides, Class notes & Summaries

5 components of an information system 1. Hardware 2. Software 3. Data 4. Procedures 5. People Examples of hardware desktop computers laptop computers mobile phones tablet computers e-readers storage devices, such as flash drives input devices, such as keyboards, mice, and scanners output devices such as printers and speakers Less traditional, but becoming more computerized: automobiles refrigerators beverage dispensers digital device Devices that processes electronic si...

MAN 320F Exam 2 questions with solutions 100% correct What is the blue ocean strategy go where the profits and growth are and where the competition isn't Technology and Globation -info on products and prices will be immediately available -meaning accelerated commoditization (when brands become more similar, people buy on price) -Therefore, niche markets and monopolies quickly dissapear Products and services introduced recently -Iphone in 2007 (1 billion units have been sold) -Ipad in 2...

MBA 706 - Exam 1 Study Guide with Complete SolutionsMBA 706 - Exam 1 Study Guide with Complete SolutionsMBA 706 - Exam 1 Study Guide with Complete SolutionsMBA 706 - Exam 1 Study Guide with Complete SolutionsMBA 706 - Exam 1 Study Guide with Complete SolutionsConsequences of mature industries where slowing innovation, extensive product assortment, excess supply, and frugal consumers forces margins to the floor. - ANSWER-Commoditization What are some challenges and opportunities in today's ...

Commoditization correct answers Consequence of mature industries where slowing innovation, extensive product assortment, excess supply and frugal consumers force margins to the floor If a product is a commodity... correct answers The product is exactly the same as your competition Having a commodity is correct answers Not a good thing, because it drives down the prices Marketing Planning and Strategy correct answers All organizations require effective planning and a sound marketing stra...

Commoditization - ANSWER-The process by which products lack differentiation and are seen as offering similar benefits, leading to increased price competition. Environmental scanning - ANSWER-The analysis of economic, political, legal, technological, and cultural events that may impact the organization's operations and strategies. Mission statement - ANSWER-A formal summary of the aims and values of an organization, providing a framework for setting goals and objectives.

Marketing Program correct answers The strategic combination of the four marketing mix elements The product receives the most attention because it is most responsible for fulfilling the customers' needs and wants The Marketing Program correct answers Involves creating an offering that is an array of physical (tangible), service (intangible), and symbolic (perceptual) attributes designed to satisfy customers' needs and wants Due to commoditization, the core product typically becomes incap...

What is the definition of utility as it pertains to a product correct answers Features or attributes that set them apart from competition. High form utility would mean high quality products. The total satisfaction or value that you get from a product. Know what is used to focus on the internal factors and external factors that give the firm certain advantages and disadvantages correct answers Know the difference in primary and secondary research correct answers Primary data collection is ...

Strategic combination of marketing mix elements correct answers Aimed at maximizing tangible, intangible, and perceptual attributes of a complete offering You do not want your product to be a correct answers Commodity To avoid commoditization ... correct answers Most organizations try to enhance the service and symbolic elements of their offerings by changing price, distribution, or how they promote the product or organization Most critical strategic decision in a marketing plan correct...

What is the blue ocean strategy - Answer-go where the profits and growth are and where the competition isn't Technology and Globation - Answer--info on products and prices will be immediately available -meaning accelerated commoditization (when brands become more similar, people buy on price) -Therefore, niche markets and monopolies quickly dissapear Products and services introduced recently - Answer--Iphone in 2007 (1 billion units have been sold) -Ipad in 2008 (450 million units) -I...

What is the blue ocean strategy correct answers go where the profits and growth are and where the competition isn't Technology and Globation correct answers -info on products and prices will be immediately available -meaning accelerated commoditization (when brands become more similar, people buy on price) -Therefore, niche markets and monopolies quickly dissapear Products and services introduced recently correct answers -Iphone in 2007 (1 billion units have been sold) -Ipad in 2008 (4...