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Chapter 2 Developing Marketing Strategies and a
Chapter 2 Developing Marketing Strategies and a

... © 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. ...
The Strategy of International Business
The Strategy of International Business

... • Expand the market for their domestic product offerings by selling those products in international markets • Realize location economies by dispersing individual value creation activities to locations around the globe where they can be performed most efficiently and effectively • Realize greater cos ...
Development of market orientation and competitiveness of Ukrainian
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... interfunctional co-ordination which organises the utilisation of company resources for creating superior value for target customers. Several recent research projects were based on these conceptualisations (e.g. Ruekert, 1992; Deshpande et al., 1993), which suggested different additional elements of ...
FBC stands for “Firm Behavioral Change” and refers to the
FBC stands for “Firm Behavioral Change” and refers to the

... standards within their own industries. NBP: compliance is not mandatory. In the long-term, non-compliance can affect a firm’s position among its peers, but there is no risk to firm survival in the short-term, which makes it not normal business practice PPP: depending on the regulation in question, p ...
Shedding Light on Marketing`s Dark-Side: Exploring
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... their return on investment (Gordon, 2006). The practice of deliberately de-emphasising a customer segment is known as “de-marketing’, and represents any process by which a firm discourages particular customer groups from consuming specific products or services (Gordon, 2006; Wall, 2005). An example ...


...  satisfied managers be more likely to got to the extra mile for their organization or perform organizational citizenship behaviours (OCBs), behaviours that are not required of organizational members but that contribute to and are necessary for organizational efficiency, effectiveness, and gaining a ...
Strategy-aligned fuzzy approach for market segment
Strategy-aligned fuzzy approach for market segment

... general assumption behind the dimension is that there is a fundamental difference in how the firm is affected by the segmentation (Clarke and Freytag 2008). At a strategic level, the consideration is on the top management level and concerns the creation of missions and strategic intent, and can beco ...
department of management - Department of Economics and
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international marketing strategies of indian firms
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Lecture 1:
Lecture 1:

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“Doing” strategy - Strategic Leadership Forum
“Doing” strategy - Strategic Leadership Forum

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MATCHING
MATCHING

... 2. Monitoring local newspapers and television news shows for general information relating to a firm's business would be an example of a. environmental scanning. b. economic analysis. c. social-political manipulation. d. technological development. ANS: A ...
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... homepage would increase use of the advertised databases. This was measured by the number of click-throughs from the homepage advertisements to each database description, as well as the number of times a day users selected these databases through the Duke University Libraries’ Web site. By choosing s ...
Monopoly and Dominant Firms
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... opportunity costs), unless the seller hoped that it could thereby permanently drive out its rivals and emerge as an unchallenged monopolist (which could charge $10 per gadget, etc.); so long as it is easy for firms to enter and exit the gadget industry, this last expectation would be unlikely to be ...
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View/Open - USIU
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... make a case for that in your company description. If your description does not say IoT or M2M, you’re probably not a fit. Publications, blogs and analysts firms are currently not being accepted as part of The IoT Universe. What other resources do you have available for M2M/IoT? Calysto is the leadin ...
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... • (i) Profit is rental in character. Just as superior grades of land earn more rent than the inferior grades of land, similarly superior entrepreneurs due to their exceptional ability or opportunity earn more profits than the inferior entrepreneurs. • (ii) As in the case of land, there is a no-rent ...
stock market undervaluation of resource redeployability
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... you get. Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.’ However, there have been compelling theoretical arguments that strategizing around resources mispriced in stock markets is precluded by the market efficiency: …we view markets as amazingl ...
matching strategy to industry and company situations
matching strategy to industry and company situations

... and distributors. Tripartite collaboration among these parties can produce excellent business results. In order to streamline the various value chain activities, they can collaborate on the use of Internet technology. Their collaboration on the implementation of cost-saving innovations can also lead ...
Section 1.5 Theory of the firm and market structures (HL
Section 1.5 Theory of the firm and market structures (HL

... products sold by the firms, (3) relative freedom of entry into and exit out of the industry, and (4) extensive knowledge of prices and technology. These four characteristics mean that a given monopolistically competitive firm has a little bit of control over its small corner of the market. The large ...
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Monopolistic Competition
Monopolistic Competition

... products sold by the firms, (3) relative freedom of entry into and exit out of the industry, and (4) extensive knowledge of prices and technology. These four characteristics mean that a given monopolistically competitive firm has a little bit of control over its small corner of the market. The large ...
The CMO Survey
The CMO Survey

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Preview Sample 1
Preview Sample 1

... market into those groups of customers with different needs, wants, or characteristics who therefore might appreciate products or services geared especially toward them. After identifying the different segments, the firm goes after, or targets, certain groups on the basis of the firm’s perceived abil ...
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Resource-based view

The resource-based view (RBV) as a basis for the competitive advantage of a firm lies primarily in the application of a bundle of valuable tangible or intangible resources at the firm's disposal (Mwailu & Mercer, 1983 p142, Wernerfelt, 1984, p172; Rumelt, 1984, p557-558; Penrose, 1959). To transform a short-run competitive advantage into a sustained competitive advantage requires that these resources are heterogeneous in nature and not perfectly mobile (: p105-106; Peteraf, 1993, p180). Effectively, this translates into valuable resources that are neither perfectly imitable nor substitutable without great effort (Barney, 1991;: p117). If these conditions hold, the bundle of resources can sustain the firm's above average returns. The VRIO and VRIN (see below) model also constitutes a part of RBV. There is strong evidence that supports the RBV (Crook, Ketchen, Combs, and Todd, 2008). RBV has been extensively applied in management and marketing (Kozlenkova, Samaha, and Palmatier). Identify the firm’s potential key resources. Evaluate whether these resources fulfill the following criteria (referred to as VRIN): Valuable – A resource must enable a firm to employ a value-creating strategy, by either outperforming its competitors or reduce its own weaknesses (: p99;: p36). Relevant in this perspective is that the transaction costs associated with the investment in the resource cannot be higher than the discounted future rents that flow out of the value-creating strategy (Mahoney and Pandian, 1992, p370; Conner, 1992, p131). Rare – To be of value, a resource must be rare by definition. In a perfectly competitive strategic factor market for a resource, the price of the resource will be a reflection of the expected discounted future above-average returns (Barney, 1986a, p1232-1233; Dierickx and Cool, 1989, p1504;: p100). In-imitable – If a valuable resource is controlled by only one firm it could be a source of a competitive advantage (: p107). This advantage could be sustainable if competitors are not able to duplicate this strategic asset perfectly (Peteraf, 1993, p183; Barney, 1986b, p658). The term isolating mechanism was introduced by Rumelt (1984, p567) to explain why firms might not be able to imitate a resource to the degree that they are able to compete with the firm having the valuable resource (Peteraf, 1993, p182-183; Mahoney and Pandian, 1992, p371). An important underlying factor of inimitability is causal ambiguity, which occurs if the source from which a firm’s competitive advantage stems is unknown (Peteraf, 1993, p182; Lippman and Rumelt, 1982, p420). If the resource in question is knowledge-based or socially complex, causal ambiguity is more likely to occur as these types of resources are more likely to be idiosyncratic to the firm in which it resides (Peteraf, 1993, p183; Mahoney and Pandian, 1992, p365;: p110). Conner and Prahalad go so far as to say knowledge-based resources are “…the essence of the resource-based perspective” (1996, p477). Non-substitutable – Even if a resource is rare, potentially value-creating and imperfectly imitable, an equally important aspect is lack of substitutability (Dierickx and Cool, 1989, p1509;: p111). If competitors are able to counter the firm’s value-creating strategy with a substitute, prices are driven down to the point that the price equals the discounted future rents (Barney, 1986a, p1233; Sheikh, 1991, p137), resulting in zero economic profits. Care for and protect resources that possess these evaluations, because doing so can improve organizational performance (Crook et al., 2008).The VRIN characteristics mentioned are individually necessary, but not sufficient conditions for a sustained competitive advantage (Dierickx and Cool, 1989, p1506; Priem and Butler, 2001a, p25). Within the framework of the resource-based view, the chain is as strong as its weakest link and therefore requires the resource to display each of the four characteristics to be a possible source of a sustainable competitive advantage (: 105-107).
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