strategic mgt Session 05 - Business Level

strategic mgt Session 05 - Business Level - MGT 4195...

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MGT 4195 Strategic Management Fall, 2010 Shanti D. Agung Georgia Institute of Technology
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What is business level strategy? 2 What function does it serve? Source: Hills, C., & Jones, G. Strategic Management. 2008. Houghton Mifflin Company.
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Business level strategy s Developing a firm-specific business model that will allow a company to gain competitive advantage over its rivals in a market or industry ustomers’ needs HAT) 3 s Customers’ needs (WHAT) s Customer groups (WHO) s Distinctive competencies (HOW) s Superior efficiency s Quality s Innovation s Responsiveness to customers HOW ARE YOU GOING TO CREATE VALUE? Source: Hills, C., & Jones, G. Strategic Management. 2008. Houghton Mifflin Company.
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What is to be satisfied? s Customer needs s Desires, wants, or cravings that can be satisfied through product attributes iven customer needs, what are the eterminants of 4 s Given customer needs, what are the determinants of their choice ? s The way the product is differentiated from other products of its type s The price of the product Source: Hills, C., & Jones, G. Strategic Management. 2008. Houghton Mifflin Company.
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What is to be satisfied? (cont’) s Product differentiation s Designing products to satisfy customers’ needs in ways that competing products cannot. s Differentiated products 5 s Low-priced products s Issue: Balancing differentiation and costs Source: Hills, C., & Jones, G. Strategic Management. 2008. Houghton Mifflin Company.
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Who is to be satisfied? s Market segmentation s The way a company decides to group customers, based on their different needs or preferences pproach to market segmentation 6 s Approach to market segmentation s Ignore differences in customer segments; serve the average customer s Recognize differences in customer segments; serve the needs of each segment s Recognize differences in customer segments; concentrate on serving only one or two segments Source: Hills, C., & Jones, G. Strategic Management. 2008. Houghton Mifflin Company.
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Why would a company devise a business model
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This note was uploaded on 01/25/2011 for the course MGT 4195 taught by Professor Aksha during the Fall '10 term at Georgia Tech.

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strategic mgt Session 05 - Business Level - MGT 4195...

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