BMGT 110 Lecture Notes - Unique Selling Proposition, Business Model Canvas, Customer Service
23 May 2018
School
Department
Course
Professor
PEST - Evaluates external environment
Political: Taxation, government stability, regulations, corruption, ease of doing business
Economic: Stage of business cycle, globalization, labor costs, changes in economy
Socio-Cultural: Population growth, gender/ethnic diversity, health & education, digital disparity
Technological: R&D activity, impact of emerging tech
SWOT - Broad external & internal evaluation
Strengths: Core competencies, assets, resources, competitive advantages, unique selling prop.
Weaknesses:
Opportunities: Opps your strengths present? What about if you eliminated your weaknesses?
Threats: Obstacles, competitors,
Competitive Advantage - What sets you above your competitors? / Achieved by VRIO
1. Characteristics of the industry in which the firm competes
2. Fi’s position relative to its competitors
3. Customer value proposition
4. Quality o uatity of the fi’s resources
Positioning Strategy - Branding & value proposition / The distinct place your want your company to occupy in the
marketplace and in the minds of the consumer.
1. Your target market
1. Ho you’ll reach them
2. What they’e really buying from you
3. Competitors
4. Your unique selling proposition
Value Chain - The full process of how your product reaches the consumer. From concept, to production, to sale, to
service.
Primary Activities: Involved in production & sales
Support Activities: Required to run the business
VRIO - Harnessing resources to achieve competitive advantage / (See RBV strategy approach)
V - Valuable: Willingness to pay
R - Rare: Non-substitutable
I - Inimitable: Unique: (special diamonds), Path dependent (Coke brand), Causally Ambiguous (culture)
O - Organized: to exploit full competitive advantage
Business Model Canvas - Harnessing resources to achieve competitive advantage
Customer Segments: Users, paying customers
Value Proposition: Bundles of products and services that create value
Channels: Means of delivering value
Customer Relationships: Outlie the type of elatioship you’e estalishig ith you ustoes
Revenue Streams: How and through which pricing mechanisms your capturing money
Key Resources: Which assets are indispensable
Key Activities: What you really need to perform well
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Political: taxation, government stability, regulations, corruption, ease of doing business. Economic: stage of business cycle, globalization, labor costs, changes in economy. Socio-cultural: population growth, gender/ethnic diversity, health & education, digital disparity. Strengths: core competencies, assets, resources, competitive advantages, unique selling prop. Customer value proposition: quality o(cid:396) (cid:395)ua(cid:374)tity of the fi(cid:396)(cid:373)"s resources. Value chain - the full process of how your product reaches the consumer. From concept, to production, to sale, to service. Vrio - harnessing resources to achieve competitive advantage / (see rbv strategy approach) I - inimitable: unique: (special diamonds), path dependent (coke brand), causally ambiguous (culture) O - organized: to exploit full competitive advantage. Business model canvas - harnessing resources to achieve competitive advantage. Value proposition: bundles of products and services that create value. Customer relationships: outli(cid:374)e the type of (cid:396)elatio(cid:374)ship you"(cid:396)e esta(cid:271)lishi(cid:374)g (cid:449)ith you(cid:396) (cid:272)usto(cid:373)e(cid:396)s. Revenue streams: how and through which pricing mechanisms your capturing money. Key activities: what you really need to perform well.
