COMM 310 Study Guide - Value Proposition, Competitive Advantage, Outsourcing
Document Summary
Environment analysis (threats: porter"s 5 forces) | switching cost, loyalty program. | select alternative products or suppliers, reverse auction. Business goal (value proposition determines goal: maximize benefit for customer (= value proposition) Tangible: saving. Always increase sales, and reduce cost. Strategy (how to work your way to the goal) Porter"s three generic strategies: creating business focus. Strategies that are commonly used by businesses to achieve and maintain competitive advantage| current narrow target differentiation focus. Firm facing one of porter"s five forces, reduce the threats in [ ] by. [ ] which will relate achieve goal. Value chain: model that highlights the primary or support activities that add a margin of value to achieve competitive advantage. Answer in relations to the focused value chain. Inbound logistics get raw materials| guarantee high quality of final product. Operations transforms raw materials into goods/service| ensure high quality of final product. Outbound logistics distribution of goods to customers| fast inventory turnover help satisfy customers.
