BSB126 Definitions

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School
Queensland University of Technology
Department
Management and Human Resources
Course
BSB126
Professor
All
Semester
Spring

Description
BCG Cash Cows - generate large amounts of cash, dominant share of a low-growth market. E.G. Light bulbs Stars - high share of a high-growth market, may need extra cash to finance rapid future growth. When growth slows - become cash cows. Question Marks - low share of high-growth market, require large injections of cash to maintain market share. Dogs - low share of low-growth markets, do not hold promise of real winners to the firm. Invest to Build - EG. Microsoft has done with XBox Invest to Hold - keep it how it is Harvest - milk short-term cash flow even though it may lose its market share Divest - sell to make money or phase out Market Product Analysis Market Penetration - increase sales of existing product to existing markets Product Development - selling a new product to existing markets Market Development - selling existing products to a new market Diversification - new products to new markets Four I's Intangibility - cannot be held Inconsistency - Developing, pricing, promoting and delivering services is challenging Inseparability - in most cases the consumer cannot separate the deliverer from the service itself Inventory - inventory of services is different from that of goods. The Marketing Concept - the idea that an organisation should strive to satisfy the needs of consumers while also trying to achieve organisational goals. Marketing Program - a plan that integrates the marketing mix to prove a good, service or idea. Market - people with both the desire and ability to buy a product Relationship Marketing - linking the organisation to its individual customers, employees, supplies and other part
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