NOTES MANAGEMENT

Read Strategic Management in Action: "E-books and Readers” a. Using the eight conditions, assess the level of current rivalry in this industry. b. Which of these eight conditions do you think are the most important to the level of current rivalry in this industry? Explain your rationale. c. As the industry matures, do you think the intensity of rivalry will change? Explain. The rise in the legacy of digital technology it has largely affected in the publishing industry as large number of people are shifted towards published books to the e-books. The nature of book readers have shifted from published books to the e-books. Raising in such trend of e-book readers this has given fierce competition to those companies who manufactures the e-book reading devices such as tabs, tablets etc. Amazon started its first device named Kindle in the year 2007 and after that other different manufactures such as Barnes & Noble, Apple, Sony Reader etc. are competing in the present market. a.Using

a. What is external analysis and what does it show managers? b. How does the concept of an organization as an open system relate to external analysis? c. What does each of the perspectives on organizational environments say? d. What role does environmental uncertainty play in external analysis? e. Why do managers need to do more than just scan the environment? 1) What is external analysis and what does it show managers? External Analysis can be defined as an analysis process that identifies the threats and opportunities for the company. In other words, managers are to conduct an external analysis. The identified opportunities and threats are to be factored in when developing strategies; that is, managers will seek to take advantage of opportunities and reduce the risk of threats, in attempts to reach the business' goals outlined in the mission. The manager's starting point will be to analyse the industry that the business operates in. There are various factors within the indus

Brand loyalty is the degree to which consumers prefers to purchase product from the same brand from the same manufacturer repeatedly than from other suppliers. It enables the marketing during the crisis period enabling the business to run in long term. The four market group segments based on brand loyalty status are: Hardcore Loyal: These are those buyers who buy only one brand all the time. Customers show their strong desire and use the same brand always. Since they feel comfortable and sense pride by using the product, people become hardcore loyal towards the product. The more the customers are hardcore loyal, the more it represents the products strengths. For example, there are large numbers of customers who only prefer to wear and buy Nike shoes not the other brand shoes available in the market, which shows that these customers are hardcore loyal only towards the brand Nike. Split Loyal: These are those customers who are loyal to two or three brands. After making the comparison fro

Mental accounting is the set of cognitive operations used by consumer to code, categorize and evaluate financial outcomes of choices. Researchers have found the consumer handling their money by using mental accounting. While purchasing product and services I have following mental accounts in my mind: ·Product importance and its need: Before buying the product, the very first thing I see is the need of that product and its importance in my life and accordingly I'll make the decision of buying. ·Quality:  I will also see at the product quality. If it meet the standard quality of what I am looking in that product and make the decision of buying it. ·Price: I'll also look at the price, see it reasonable or not so that I could afford, or is the price is set as per its quality and is it worth to buy in that amount, and make the decision accordingly. ·Availability: While purchasing I'll also see whether that product is easily available or not and what kinds of products of which b

According to Kotler & Lee (2005), consumer buying process is a psychological process that plays an important role in understanding how consumers actually make their buying decisions. Consumer buying process helps individual decide what the specifications is that is wanted in the product. The five stages of consumer buying process are:  Problem or Need Recognition: Consumer buying process's first step is problem or need recognition. For consumer to buy goods or service they should have clear idea as to what is needed from the product. This step helps to identify the specific need that consumer wants in the product which they want to buy.  Information Search: After recognizing the need, information about the need is searched about the product. Informations like features, added benefits, and advantages of the product are searched. Through various sources like internal search and external search required information is gathered.  Evaluation of Alternatives: After searching informa

Perception refers to the activity of sensing, interpreting and appreciating both physical and social world and reacting appropriately to them. It is the knowledge of the stimulus (external world). Perception is regarded as sensation plus meaning. In other words, perception is the identification of sensation. The motivated person act is always influenced by his or her perception of the situation. Perception varies in every individual even if they are expected to the same reality. Advertising, social media, public relations, personal experience and other channels are the factors that affect consumer's actual behavior. People can emerge with different perception of the same object because of three perceptual processes.  They are: Selective attention: Selective attention involves marketers to work hard so as to attract customer's notice. It focuses on specific stimulus rather than other. It is not possible to give attention to all the brand and advertisement everyday by the people

According to Starbucks Chairman Howard Schultz, "Consumers now commonly engage in a cultural audit of [product and service] providers. People want to know your value and ethics demonstrated by how you treat employees, the community in which you operate." Discuss the concept of social responsibility marketing and how it impacts both companies and consumers. Marketing is a social process. Its activities are designed and deal with identifying and meeting the human needs and expectation of the society. The marketing activities are directed at creating, communicating and delivering value which benefit organization as well as its customers, suppliers channel members and the larger public. The marketing effect is extended beyond the company and the whole larger public. The values and culture of the society is affected by the market so one must be cautious in preventing or preserving the social norms and values. The societal marketing concept helps in understanding the socially respo

Read Strategic Management in Action Cases: Case #1 Out of Focus a. Explain Kodak's driving forces, implications, and critical success factors of the business environments. b. Discuss two organizational elements that guide Kodak's strategic decision makers in managing strategically in today's context. c. Discuss the roles of ethics and social responsibility in Kodak's strategic management. d. Describe the different perspectives on competitive advantage relative to Kodak. Present I/O view, RBV, and guerilla view. Explain Kodak's driving forces, implication, and critical success factors of the business environments. Kodak's driving forces, implication and critical success factors of the business environments are as follows. Driving forces: Development of a new imaging technology such as photo enabled wireless telephones and high mega pixel digital cameras. Change in customer behavior as they want instant images rather than to wait for them to develop. Decline the t

Read "Strategic Management in Action: Hulu” a. What do you think Hulu's owners should do now? b. What is it about this situation context that is so challenging? c. What type of resources does Hulu have? Are they unique? Explain. Hulu is the American company and it is one of the mostly preferred companies for its users who provide online videos. It provides through TV shows from ABC, FOX, and NBC etc. channels from different companies. It operates a website which features more than 225 content providers and it has more than 26 million visitors every month. Hulu should follow such strategies Despite the global recognition of Hulu, but to maintain its standard and to gain the market share it has to follow the various strategies. They need to identify the hidden market or the gap which has not been practiced by the existing companies. This will automatically provides the core advantages among competitors. It has to focus on gaining market share in the TV industry which leads to th

a. Visit the Applebee's Web site www.applebees.com. Then, using the Applebee's strategies as a model, discuss how other, perhaps local or traditional, restaurants could use new strategies to revive their reputation. b. What are Applebee's strategies that it is pursuing? Do you think these strategies could be used successfully at other local or traditional restaurants to compete? 1. Applebee has a lively atmosphere for the happy hour people. I has a smaller restaurants and entrée prices are below casual dining and fine dining competitors. Applebee is places at small towns and cities with huge numbers of satisfied customers. Applebee offers many different kinds of food including the following: Asian, Italian, Mexican, American and others. Applebee  provide excellent services through innovation and connecting with their customers, such impact is seen in the growth of the customers and has derived them the best results. Applebee has started with the same philosophy we follow to

Compare and contrast conventional strategic planning concepts with those of strategic intent and skill-based strategic thinking. Explain how the differences in these concepts can lead to better business strategy practice. Strategic planning concerns analysis - establishing and formalizing systems and procedures. Strategic planning, is the systematic and logical application of strategies. It covers a broad range of management approaches including development and implementation of an organizational strategic plan. Evident in both approaches is a clear link between leadership and strategic management.  Strategic planning is often used to create a solution to a specific problem. For example, restaurants that have great nighttime business but no volume during the day would benefit from a strategic plan specifically focused on increasing daytime business.  Strategic intent is a high level statement usually incorporates stretch targets, which force companies to compete in innovative ways whic