Business Administration at Universität St. Gallen | Flashcards & Summaries

Lernmaterialien für Business Administration an der Universität St. Gallen

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market orientation

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“Market orientation means the implementation of the marketing concept. Hence, a market-oriented organization is one whose actions are consistent with the marketing concept.”


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customer aquisition process

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  • AIDA model : customer aquisition goes from first step of attracting attention (Attention) to raising interest (Interest), which leads to deepend evolution phase generating deeper interest (desire) that finally leads to purchasing ( Action)
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orchestrator 

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  • Like an integrator, an orchestrator does many things in its added­value chain itself

  • buys several products and services; always from specialists --> gain quality and cost advantages compared to producing components themselves
  • If a key supplier drops out at short notice, though, production can come to a standstill + transaction costs arise



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marketing, defined as a function

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  • marketing is concerned with the implementa­tion of business activities that guide the stream of goods and services from the producer to the consumer or user


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innovation processes 

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  • necessary through change in demand and needs, through emerging substitute or competing products or changes in the environment, such as regulations.
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brand

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  • can be defined as a symbol or a name that has a monopoly position for a specific use in the consumer’s mind
  • consumer connects brand to product that fulfills particular need
  • have to be created through winning customers trust and through longterm oriented marketing; cultivated continually
  • clear positoning & long­-term ori­ented, integrated marketing are requirements for a brand


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customer benefit

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results form juxtaposition(two things next to each other; comparing) of needs or expectations & meeting of those through product/service

--> quality results form this juxtaposition

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integrator

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  • company can also focus on being in control of every val­ue­ adding stage of a value­ creation process

  • often the case with traditional companies of an industry
  • can influence the optimization of continuous performance and gen­ erate so­called economies of scope
  • can save transaction costs, does not have negotiate complex contracts with suppliers and consumers
  • runs the risk of having to accept cost disadvantages due to lack of specialization











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introduction phase, Five-phase product life-cycle


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  • introduction phase: pioneer customers buy product that is still unknown; positioning of product is shaped; requires high investement in production, opening new markets and positioning ( small quantity of sales)
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social responisble leadership

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sustainable management with the objective of a balance between the value demands of in­ternal and external stakeholders in the context of an increasingly global and networked stakeholder society


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growth face, 


Five-phase product life-cycle


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  • sales rise rapidly (new customers, higher consumption, early replacement demand) 
  • vital to assure quality for sufficient cost optimization
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reputation/ branding process


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  • overlaying process ra­diating to the public at large via the entire buying cycle with its contact, evaluation, purchase, use and repeat­purchase stages

  • important to keep the brand attractive for important customers all the time

  • tactical, short-term measures can have an effect of the long -term image

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Q:

market orientation

A:


“Market orientation means the implementation of the marketing concept. Hence, a market-oriented organization is one whose actions are consistent with the marketing concept.”


Q:

customer aquisition process

A:
  • AIDA model : customer aquisition goes from first step of attracting attention (Attention) to raising interest (Interest), which leads to deepend evolution phase generating deeper interest (desire) that finally leads to purchasing ( Action)
Q:

orchestrator 

A:
  • Like an integrator, an orchestrator does many things in its added­value chain itself

  • buys several products and services; always from specialists --> gain quality and cost advantages compared to producing components themselves
  • If a key supplier drops out at short notice, though, production can come to a standstill + transaction costs arise



Q:

marketing, defined as a function

A:
  • marketing is concerned with the implementa­tion of business activities that guide the stream of goods and services from the producer to the consumer or user


Q:

innovation processes 

A:

  • necessary through change in demand and needs, through emerging substitute or competing products or changes in the environment, such as regulations.
Mehr Karteikarten anzeigen
Q:

brand

A:
  • can be defined as a symbol or a name that has a monopoly position for a specific use in the consumer’s mind
  • consumer connects brand to product that fulfills particular need
  • have to be created through winning customers trust and through longterm oriented marketing; cultivated continually
  • clear positoning & long­-term ori­ented, integrated marketing are requirements for a brand


Q:

customer benefit

A:

results form juxtaposition(two things next to each other; comparing) of needs or expectations & meeting of those through product/service

--> quality results form this juxtaposition

Q:

integrator

A:
  • company can also focus on being in control of every val­ue­ adding stage of a value­ creation process

  • often the case with traditional companies of an industry
  • can influence the optimization of continuous performance and gen­ erate so­called economies of scope
  • can save transaction costs, does not have negotiate complex contracts with suppliers and consumers
  • runs the risk of having to accept cost disadvantages due to lack of specialization











Q:

introduction phase, Five-phase product life-cycle


A:
  • introduction phase: pioneer customers buy product that is still unknown; positioning of product is shaped; requires high investement in production, opening new markets and positioning ( small quantity of sales)
Q:

social responisble leadership

A:

sustainable management with the objective of a balance between the value demands of in­ternal and external stakeholders in the context of an increasingly global and networked stakeholder society


Q:

growth face, 


Five-phase product life-cycle


A:
  • sales rise rapidly (new customers, higher consumption, early replacement demand) 
  • vital to assure quality for sufficient cost optimization
Q:
reputation/ branding process


A:
  • overlaying process ra­diating to the public at large via the entire buying cycle with its contact, evaluation, purchase, use and repeat­purchase stages

  • important to keep the brand attractive for important customers all the time

  • tactical, short-term measures can have an effect of the long -term image

Business Administration

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