341 F09 C2 Strategy

341 F09 C2 Strategy - Chapter 2 “Learn and understand...

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Unformatted text preview: Chapter 2 “Learn and understand fundamental components and tools for marketing and how each relates to creating and sustaining value for customers.” Attract and retain the right customers . Profitability The (Right) Customer is King… “Nothing in the warehouse should be marked up more than 14-15 percent from cost…even if the market would bear more.” “Pricing goods higher would prompt customers to lose trust.”- Jim Sinegal, Costco Founder Strategy is when you are out of ammunition, but keep right on firing so that the enemy won’t know. (Anonymous) It is useless to tell a river to stop running; the best thing is to learn to sail in the direction it is flowing. (Anonymous) Dig a well before you are thirsty. (Chinese proverb) Plans are nothing; planning is everything (Dwight Eisenhower) “Chesire Puss,” [Alice] began…“would you please tell me which way I ought to go from here?” “That depends on where you want to get to,” said the cat. (Lewis Carroll) Failing in Business is Easy… Think Strategically. 1. BCG Growth-Share Matrix 2. SWOT 3. The 4 C’s 4. Segment, Target, Position 5. The 4 P’s Corporate Strategy What business should we be in? Beverages Packaged Foods Salty Snacks 1997: Fast food businesses were spun-off Corporate Strategy What business should we be in? Strategic Business Unit (SBU) Strategy How do we compete effectively in a given business? Salty Snacks The highest levels of profitability were exhibited by companies having a strategy of diversifying primarily into those areas that drew on some common core skill or resource. (Rumelt) Spets perform better than generalists. Stuffers Rumbles Toppels Corporate Strategy...
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This note was uploaded on 11/27/2011 for the course BUS M 341 taught by Professor Scottsmith during the Fall '10 term at BYU.

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341 F09 C2 Strategy - Chapter 2 “Learn and understand...

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