week 8
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University of Toronto *
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RSM100
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Business
Date
Feb 20, 2024
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6
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Entrepreneurial Challenges
→
uncertainty
Small Business vs Entrepreneurial Business
Size
Age
Growth
:
→
small business owner (stay small)
→
entrepreneur (grow rapidly as they age)
What is the David Birch Model
→
Mice: small, changes direction quickly, (small pizza shop)
→
Gazelles : more agile
→
Elephants : strong, cannot change direction easily (Petro Canada, TD)
CASE STUDIES
The Failure of Nordstorm Canada: background
●
Multiple problems
●
Revenue from tourists stopped during COVID
●
Competition: established brand/department stores: The Bay
●
Nordstrom Rack: ⅓ of sales, not doing well
●
Losing $ from day 1, going on too long (2014-)
●
Distraction to main business (US)
●
Not differentiating themselves
●
No good retail space
●
Department store experience vs chanel, louis v, prada
WHAT DID THEY DO WRONG:
→
overestimated value of brand in Canada
→
closest competitor : holt renfrew
→
did not understand Canadian market well
→
market is smaller
→
overestimated demand for high end goods
WEEK 3: Managing and Leading in Organizations
What are the 4 Key Managerial Functions
1.
Planning
Setting performance
-
Asses competitiveness: where are my competitors today
-
Setting objectives for the organization
-
Competitive differentiation
-
Turn customer strategies to customer blueprint
A regular year:
-
You make the budget plan what are you going to do to get your objectives
-
Then goes to negotiation build the bran investment into customers
-
Now align with the customer move on to being very technical and explicit (graph)
-
Kick off the year coca cola starlight put up marketing programs
-
Then look at what actually goes on the shelf a lot of data and science goes where what
goes on the top/bottom shelves group by brand or packaging with diff pricing look into it
data
-
Profit: How is the performance with Coca Cola in the store
-
JBP Principles Profit needs to be greater than sales (profit margin getting smaller
problem bc then walmart will stop bc its not making enough money invest into
competitors)
-
Sales volume: Coke in walmart growing 4 and overall 5 why do you care as
walmart because you are losing market shares (I lose customers to the last of the
market they wanna grow walmart market share vs food basics and so on so you
need to focus on that as well)
-
Growing Sobey vs walmart we don't collide we just try to grow the market as
much as possible instead of trying to gain the customers
-
JBP important bc it helps convey to the customer that I really care about what
they're trying to do and grow their business, use strategies together
-
You’re in for it long term and not at their expense (short term)
Coca Cola business Planning process:
-
Look at the chart on the slide
Customer priorities guide our CBP:
-
Where the cx are coming from and understand what they want
-
Walmart for ex they tell you exactly what they want to do in their quarterly meetings
-
You need to see if this aligns with you
Learn how to plan based on the Blueprint design:
Week 8: Strategy I
Foundations of Strategic Analysis
-
How is the company developing its competitive advantage?
-
Competitive advantage : have something that is both valuable and rare, hard to
duplicate.
-
Marrying internal capabilities + external environment
-
Internal - special knowledge or expertise
-
External - tech, government, what's going on in the world outside of organization
and how do I adjust the strategy
-
Obese LOL more appetite for diet supplements in usa than canada
-
More appetite for diet supplements
-
SWOT ANALYSIS
-
Looks at what's going on in and outside the organization
-
Internal: strengths of company, weaknesses of company
-
External: Competitors outside of company, opportunities
-
Growth Strategy
-
Concentration strategy: high concentration
-
Diversification strategies: diversify through related diversification (rogers buying
fido), when rogers bought the sky dome
-
Rogers bought fido (related)
-
Rogers bought Skydome (unrelated)
-
Vertical integration: Buy customer (vertical) and vice versa
-
Readjustment operations when organization in trouble
-
Restructuring and divestiture strategies
-
Formulate strategies
-
Cost and quality (toyota - reliable vehicles, reasonable price)
-
Knowledge and speed
-
Barriers to entry (financial resources)
-
Financial resources
-
Strategy formulation:
Eatons: Case Example
1.
Identify (Similar to the Bay) -
2.
Analyze - appeared like the environment was open for another higher end department
store and they had the resources to convert stores to higher end stores
3.
Revise - changed strategy to being a high end retailer
4.
Implement - changed stores appearance and marketing campaigns
5.
Evaluate - realized they already had a brand image in the eyes of consumers - failed and
sold company to Sears
Why they failed
-
Changed their brand (failed miserably), everything got more expensive - failed because
old customers left due to higher price (why do we have to pay for money for a new logo)
-
Don't know what there selling and does not attach value to that brand
Branding change : Ashley Madison
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Related Questions
QUESTION 37
Which is identified as the foundation for the marketing plan?
a. Target market segmentation
b. Value proposition development
c. Market research
d. Market plan development
Why are failure rates for new products debatable?
a. Failure rates are high
b. Failure rate has a defined inclusive definition
c. The market is always changing
d. Failure rate is not clearly defined
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what is sometimes referred to as the Wrong Pocket problem associated with public health funding.
question: Briefly define and describe the Wrong Pocket concept, using childhood vaccinations as a point of reference. How does program evaluation help to address the Wrong Pocket issue.
https://www.nj.com/politics/2015/03/poll_should_religious_exemptions_from_child_vaccin.html#incart_river
arrow_forward
Q4
principles and how to Resolving
Ethical Dilemmas.
What are ethical issues and
arrow_forward
None
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Q1. Business Name : ADIDAS X PARLEY.
- Value proposition statement?
- Propose model & framework ?
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QUESTION 3
Discuss three main benefits to create a Business Plan.
TTTT Paragraph
Arial
3 (12pt)
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Q:
Discuss about any existing company showing the main issues and give recommendations to someone who want to start his own business.
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Section 2: Brand Performance
Table 1: Brand Performance Metrics
Share of
Sole
Loyalty
(%)
Market
Average
Purchase
Category
Buying
Rate
Penetration
Category
Requirements
(%)
Brand
Share
(%)
(%)
Frequency
Twinings
32
71
3.1
6.3
45
16
Nerada
23
62
3.0
6.8
38
11
Lipton
19
43
2.8
7.2
29
7
Tetley
15
32
2.8
7.6
21
3
Bushells
17
2.5
8.2
18
1
Pukka
8
2.0
9.8
13
Average
100
39
2.7
7.7
27
6
2. Table 1 shows the brand performance metrics over a 6 month time period. Are
there any patterns evident between the brand performance measures in Table 1?
Describe the patterns and differences that you see between the competing
brands, and specifically for Lipton.
(500 words approx.)
arrow_forward
List ten strengths and weaknesses of Lithium Americas Corporation.
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Required:
Create a Competitive Analysis for Hersheys Company
Noted: details in the photo attached
arrow_forward
Our Mission"IIE MSA provides innovative and exceptional learning experiences to students in a way that ensures intellectual engagement and critical thinking. Our students are empowered to maximise their potential and equipped to meet real needs to advance the development of society".
Q1. Typically, a mission statement answers specific questions about a business. Evaluate at least five questions that the IIEMSA mission statement answers.
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Q.21 Why do we need to approach customers problems through a 6 Digital Transformation Theme approach? 1. It helps to offer People/Process/Technology challenges from customers as bundled services to drive business transformation It is a marketing strategy to differentiate from others Digital technologies can be easily bundled under 6 Themes None of the above Q.22 Application modernization' falls under which Digital Transformation theme? 1. Intelligent Core Digital Insights Digital Customer None of the above Q.23 Cloud migration strategy' falls under which Digital Transformation theme? Intelligent Core 2 Strategy \& Design Digital Customer None of the above Q.24 "Digital Customer" theme does not include the following sub-area... Design Engage 3 Empower Enable None of the above.
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2 mult choice
In terms of the Global Reporting Initiative's criteria for sustainability reporting, "materiality" refers to
the decisions regarding which aspects of sustainability are relevant to its operations.
the extent to which a broad range of stakeholders is considered in reporting.
decisions regarding the time, scope and boundary of the report's focus.
Which of the following is true regarding the GRI and SASB sustainability reporting platforms?
SASB uses a more general approach, whereas GRI uses industry-specific standards.
While SASB only focuses on climate-intensive sectors, the GRI is open to any organization or industry.
SASB offers voluntary public reporting and guidance, while the information presented in SASB is mandatory for listed companies.
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Q6: "Customer lifetime value (CLTV)" refers to the amount of money acustomer spends with your company over the course of their relationship.You can concentrate on the lifetime value by answering the following twoquestions.(i) How do you differentiate between two of your averageconsumers, one that visits STO MegaMall in person and spendstheir money there, and the other customer who buys fromeSTORE.mv, the online channel option? With examples andcomputations, explain CLTV. (ii) What are STO MegaMall and eSTORE.mv willing to do as toestablish, strengthen, and maintain customer relationships asindependent customer channels?
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QUESTION 1
There some characteristics that distinguishes service marketing from other marketing, with your understanding of service marketing state and explain five characteristics of service marketing giving some examples.
QUESTION 2
What is service marketing? There are a number of reasons why services marketing are more important today than it was in the past. Discuss.
QUESTION 3
The role of the 3ps in service marketing is especially important. State and explain what the 3Ps are and its relevance in service marketing.
Briefly explain what design can achieve in service marketing.
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Business Name : ADIDAS X PARLEY.
1. Market Segmentation, Target Market, Positioning?
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Ch 16. Which one of the following is NOT a factor in the Marketing Audit that should be assessed?
Group of answer choices
Whether the marketing plan achieved it stated financial and nonfinancial goals.
Key factors that impacted the business for good or for bad during the past year.
The current value of the brand and customer equity for each brand in the product portfolio.
The number of times the radio station played the advertisement.
Customer satisfaction scores and the number and type of customer complaints.
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Cost-of-Quality (COQ) Reporting; Spreadsheet Application Carrie Lee, the president of LeeEnterprises, was concerned about the results of her company’s new quality control efforts. “Maybethe emphasis we’ve placed on upgrading our quality control system will pay off in the long run, butit doesn’t seem to be helping us much right now. I thought improved quality would give a real boostto sales, but sales have remained flat at about $10,000,000 for the last 2 years.”Lee Enterprises has seen its market share decline in recent years because of increased foreigncompetition. An intensive effort to strengthen the quality control system was initiated a year ago (onJanuary 1, 2020) in the hope that better quality would strengthen the company’s competitive position and reduce warranty and servicing costs. The following costs (in thousands) relate to qualityand quality control over the last 2 years:[LO 17-5, 17-7]2019 2020Warranty repairs $420 $140Rework labor 140 200Supplies used in testing 4…
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Q1. With the concern of going green, organizations are concerned of making their organizations sustainable. Explain meaning of sustainability and the three pillars of sustainability with an example of a company working on sustainability.
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answer quickly
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help
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Q1. Outline the concept of “shared value” and “inclusive business”.
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Part 4 Independent Challenge 2
1. Get ready
Help Sage Realty Services find a solution to a problem. Complete the following
steps.
Figure 4-17 (duplicated below) shows the ideas for how to try the solution of improving customer
service and increasing referrals for six months.
FIGURE 4-17
Survey customers
Sponsor event for home buyers
Send links or DVDs of virtual tours
Update contact management
software
Do in three stages: March 1-15,
May 1-15, and September 1-15
Organize follow-up social events
with recent customers
2. Now you try
In the following space, identify the objectives and tasks for putting the solution into practice, based
on the details shown in Figure 4-17.
In the following table, organize the tasks into an action plan based on the following table:
Sage Realty needs to improve
customer service
Better customer service will
increase referrals (and sales),
xxx
Overall budget is $800
Survey customers ($75 for
online survey, plus $125 for
phone calls) Barbara Norman
can do…
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2
QUESTION 2
Type in five forces and identify each as Strong, Weak or Neutral. Support your analysis with statements and/or observations.
Force
Strong/Weak/Neutral
Supporting Fact / Details
Threat of substitutes
Threat of new entrants
Threat of existing rivals
Bargaining power of suppliers
Bargaining power of customers
the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).
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Scenario: you work in Apple’s Marketing Dept. You have been tasked with recommending Tim Cook (CEO) with a plan to reignite sales of Apple’s iPhone with clearly justified extension strategies to take them back into the growth stage and to importantly avoid the decline stage. What do you recommend and why? (3 points)
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FAA - aging technology in an increasingly complex environment presentation.
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DORATHY RAYMOND ISAFE MLO Test-National Component with Unform State Content)
Session 1- Question 7 of 120 (r answered
Under SAFE Act regulations, which of the following statements is true?
D
Loan processors and originators have to be licensed as mortgage loan originators (MLOS).
Loan processors and underwriters have to be licensed as MLOS.
Loan processors and underwriters who are not employed by a bank (depository institution) have to be licensed as MLOS.
A loan processor or underwriter who is an employee of a licensed mortgage lender and who operates under the supervision of a licensed MLO is not requires
be licensed as an MLO.
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Q3. What threats should Managing Director of Amul india Sodhi consider the most pressing? What opportunities present themselves as most achievable. (Word limit up to 150 words)
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Question 7
Which of the following statements is true of an effective business mission statement?
1. It is stated after the details of a marketing plan are developed.
○ 2. It should define a business in terms of goods and services rather than in terms of the benefits customers seek
3. It is based on an analysis of anticipated environmental conditions.
4. It is kept confidential from customers and stakeholders.
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- Q: Discuss about any existing company showing the main issues and give recommendations to someone who want to start his own business.arrow_forwardSection 2: Brand Performance Table 1: Brand Performance Metrics Share of Sole Loyalty (%) Market Average Purchase Category Buying Rate Penetration Category Requirements (%) Brand Share (%) (%) Frequency Twinings 32 71 3.1 6.3 45 16 Nerada 23 62 3.0 6.8 38 11 Lipton 19 43 2.8 7.2 29 7 Tetley 15 32 2.8 7.6 21 3 Bushells 17 2.5 8.2 18 1 Pukka 8 2.0 9.8 13 Average 100 39 2.7 7.7 27 6 2. Table 1 shows the brand performance metrics over a 6 month time period. Are there any patterns evident between the brand performance measures in Table 1? Describe the patterns and differences that you see between the competing brands, and specifically for Lipton. (500 words approx.)arrow_forwardList ten strengths and weaknesses of Lithium Americas Corporation.arrow_forward
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SEE MORE QUESTIONS
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Recommended textbooks for you
- BUSN 11 Introduction to Business Student EditionBusinessISBN:9781337407137Author:KellyPublisher:Cengage LearningEssentials of Business Communication (MindTap Cou...BusinessISBN:9781337386494Author:Mary Ellen Guffey, Dana LoewyPublisher:Cengage LearningAccounting Information Systems (14th Edition)BusinessISBN:9780134474021Author:Marshall B. Romney, Paul J. SteinbartPublisher:PEARSON
- International Business: Competing in the Global M...BusinessISBN:9781259929441Author:Charles W. L. Hill Dr, G. Tomas M. HultPublisher:McGraw-Hill Education
BUSN 11 Introduction to Business Student Edition
Business
ISBN:9781337407137
Author:Kelly
Publisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...
Business
ISBN:9781337386494
Author:Mary Ellen Guffey, Dana Loewy
Publisher:Cengage Learning
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ISBN:9780134474021
Author:Marshall B. Romney, Paul J. Steinbart
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Author:Charles W. L. Hill Dr, G. Tomas M. Hult
Publisher:McGraw-Hill Education