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Running Head: BUSINESS STRATEGY & CONSUMER BEHAVIOUR 0 Business Strategy & Consumer Behavior
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BUSINESS STRATEGY & CONSUMER BEHAVIOUR 1 Part A- MCQ questions 1-A 2-B 3-C 4-B 5-B 6-A 7-B 8-E 9-D 10-B 11-D 12-B 13-A 14-E 15-A
BUSINESS STRATEGY & CONSUMER BEHAVIOUR 2 Part B Question.2 A). SWOT Analysis It is defined as an outline which is used to determine the competitive position of any organization through measuring its strengths, threats, opportunities, and weakness. There are main four components of SWOT analysis such as strengths, weakness, opportunities, and threats (Utari, 2017). Figure: SWOT analysis (Source: Y graph, 2007) Strengths Such asTypical Question ResourcesWhat makes you different? KnowledgeHow are you better rather than the other? DataWhat makes you flexible? AttributesWhat low-cost resources can you draw?
BUSINESS STRATEGY & CONSUMER BEHAVIOUR 3 SkillsWhat do individuals to improve strengths? Weakness Lack ofQuestions ResourcesWhat could you increase? DataAre the timetables practicable? KnowledgeWhat should you escape? AttributesWhat is stuff that customers might see as a fault? SkillsWhich type of resources can you not deliver? Opportunities Such asQuestions Changes in policies, and strategiesDo individuals have required? Local actionsIs there any new technology? Develop new technologiesCan customers prefer anything else? Modern servicesIs there any development in policies, and strategies? Social structuresWhich types of tools can you utilize to achieve your goal? Threats Negative effect ofQuestions Development of technologiesWhich types of tools can you utilize to achieve your goal? Local actionsIs there any new technology? Modern servicesIs there any development in policies, and strategies? Use of advancement Social Constructions B). BCG Matrix It is defined as a corporate tool that is utilized to portray firm portfolio along with the horizontal and vertical axis. There are four types of approaches used in the business matrix to determine corporate strategies such as Dogs, Cash Cows, Stars, and question marks (Jurevicius, 2013).
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BUSINESS STRATEGY & CONSUMER BEHAVIOUR 4 Figure: BCG Matrix (Source: John Wiley, 2013) Stars Stars generate a large number of profits by penetration of increasing markets. The strategy or policies for stars are progressing, and resource investment (Cha, and Jang, 2014). Strategic choices: horizontal and vertical integration, market improvement, business penetration, and product development. Dogs Dogs are processed which provides a platform to compare market share to competitors and it is operating in a low improvement market. Globally, dogs are low investing because it produces low cash return. Strategic choices: liquidation, retrenchment, and divestiture. Cash cows Cash cows are the most common profitable groups and it should be milked that provide much cash. Strategic choices: retrenchment, product improvement, and divestiture. Question marks Question marks defined as the brands which involve much nearer reflection. Question marks hold low market share in developing markets by consuming a large amount of money.
BUSINESS STRATEGY & CONSUMER BEHAVIOUR 5 Question.3 A). SWOT Analysis It is defined as an outline which is used to determine the competitive position of any organization through measuring its strengths, threats, opportunities and weakness (Niederwieser, et al., 2016).There are main four components of SWOT analysis such as strengths, weakness, opportunities, and threats. Figure: SWOT analysis (Source: Y graph, 2007) Strengths Such asTypical Question ResourcesWhat makes you different? KnowledgeHow are you better rather than the other? DataWhat makes you flexible? AttributesWhat low-cost resources can you draw? SkillsWhat do individuals to improve strengths?
BUSINESS STRATEGY & CONSUMER BEHAVIOUR 6 Weakness Lack ofQuestions ResourcesWhat could you increase? DataAre the timetables practicable? KnowledgeWhat should you escape? AttributesWhat is stuff that customers might see as a fault? SkillsWhich type of resources can you not deliver? Opportunities Such asQuestions Changes in policies, and strategiesDo individuals have required? Local actionsIs there any new technology? Develop new technologiesCan customers prefer anything else? Modern servicesIs there any development in policies, and strategies? Social structuresWhich types of tools can you utilize to achieve your goal? Threats Negative effect ofQuestions Development of technologiesIs there any development in policies, and strategies? Local actionsIs there any new technology? Modern services Use of advancement B).There are many financial aspects of organizational performance such as balance sheet, income statement, cash flow statement, and return on investment. The income statement provides a brief summary of actions and it starts with revenue and stops with complete income. The balance sheet provides an idea of how an organization is managing and liabilities. Cash flow is a combination of the balance sheet and income statement. Return on investment is the main aspect of any organization and it also provides a brief idea about investment income and profit. C). Websites Attributes There are the following websites attributes used in an organization such as Quality of image
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BUSINESS STRATEGY & CONSUMER BEHAVIOUR 7 Zoom feature Consumer reviews Live Chat Alternate views Product comparisons Product demos Email Share buttons Indicate products on individual models Question.4 A). Steps for planning Forecasting Organizing Commanding Controlling Coordinating B).There are many financial aspects of organizational performance such as balance sheet, income statement, cash flow statement, and return on investment (Gatzert, 2015).The income statement provides a brief summary of actions and it starts with revenue and stops with complete income (Saeidi, et al., 2016).The balance sheet provides an idea of how an organization is managing and liabilities (Hamlin, McNeill, and Moore, 2015).Cash flow is a combination of the balance sheet and income statement. Return on investment is the main aspect of any organization and it also provides a brief idea about investment income and profit. C). Consumer Behaviour Choices There are following consumer’s behaviour choices are used in any business such as Product Brand Store type Shopping area Store Non-store source (Stephen, 2016).
BUSINESS STRATEGY & CONSUMER BEHAVIOUR 8 References Cha, N.H. and Jang, H.J., (2014) Transcriptomic analysis of the effects of triclosan on Mycobacterium bovis BCG.BioChip Journal,8(3), pp.163-170. Gatzert, N., (2015) the impact of corporate reputation and reputation-damaging events onfinancialperformance:Empiricalevidencefromtheliterature.European Management Journal,33(6), pp.485-499. Hamlin, R.P., McNeill, L.S., and Moore, V., (2015) the impact of front-of-pack nutrition labels on consumer product evaluation and choice: an experimental study.Public health nutrition,18(12), pp.2126-2134. JohnWiley(2013)Strategyformulation[online]Availablefrom: http://www.johnwiley.net.au/highered/management/istudy/menu/strategic_manage ment/strategy_formulation_and_the_BCG_matrix_model/ [Accessed 27/07/18]. Jurevicius,O.(2013)BCGgrowth-sharematrix[online]Availablefrom: https://www.strategicmanagementinsight.com/tools/bcg-matrix-growth-share.html [Accessed 27/07/18]. Niederwieser, D., Baldomero, H., Szer, J., Gratwohl, M., Aljurf, M., Atsuta, Y., Bouzas, L.F., Confer, D., Greinix, H., Horowitz, M. and Iida, M., (2016) Hematopoietic stem cell transplantation activity worldwide in 2012 and a SWOT analysis of the Worldwide NetworkforBloodandMarrowTransplantationGroupincludingtheglobal survey.Bone marrow transplantation,51(6), p.778. Saeidi, S.P., Sofian, S., Saeidi, P., Saeidi, S.P. and Saaeidi, S.A. (2015) How does corporate social responsibility contribute to firm financial performance? The mediating role of competitiveadvantage,reputation,andcustomersatisfaction.Journalofbusiness research,68(2), pp.341-350. Stephen, A.T., (2016) the role of digital and social media marketing in consumer behavior.Current Opinion in Psychology,10, pp.17-21.
BUSINESS STRATEGY & CONSUMER BEHAVIOUR 9 Utari, I.A.P.A., (2017) Stability and Persistence Analysis of Mathematical Model of BCG Immunotherapy in Superficial Bladder Cancer.Applied Mathematical Sciences,11(46), pp.2291-2304. Ygraph(2007)SWOTanalysissample[online]Availablefrom: http://ygraph.com/chart/2911 [Accessed 27/07/18].