Porter's Value Chain Model and Starbucks Case Study

<p>Design (B)</p> Signup and view all the answers

<p>It enhances targeted marketing efforts. (B)</p> Signup and view all the answers

<p>The combination of production factors to create value (B)</p> Signup and view all the answers

<p>Firm infrastructure (D)</p> Signup and view all the answers

<p>Operations (A)</p> Signup and view all the answers

<p>Starbucks Sandwich production (A)</p> Signup and view all the answers

<p>Study of customer segments (B)</p> Signup and view all the answers

<p>Secondary activity (D)</p> Signup and view all the answers

<p>Marketing &amp; Sales (B)</p> Signup and view all the answers

<p>To describe activities needed to deliver a product or service (A)</p> Signup and view all the answers

<p>Customer Service (D)</p> Signup and view all the answers

<p>Converting inputs into the final product or service (B)</p> Signup and view all the answers

<p>Procurement (C)</p> Signup and view all the answers

<p>Value Chain of Suppliers (C)</p> Signup and view all the answers

<p>Outbound Logistics (A)</p> Signup and view all the answers

<p>To foster innovation and improve production processes (B)</p> Signup and view all the answers

<p>By building customer relationships and promoting products (C)</p> Signup and view all the answers

<p>Facilitating communication and managing finances (D)</p> Signup and view all the answers

<p>Mechanical processing (D)</p> Signup and view all the answers

<p>51% of revenue is generated from company-operated stores. (D)</p> Signup and view all the answers

<p>Processes for creating and delivering valuable offerings. (A)</p> Signup and view all the answers

<p>87,000 variants (C)</p> Signup and view all the answers

<p>Customer engagement (A)</p> Signup and view all the answers

<p>More than 50% (B)</p> Signup and view all the answers

<p>More than 80 markets (D)</p> Signup and view all the answers

<p>Franchise stores (D)</p> Signup and view all the answers

<p>Adolescents (C)</p> Signup and view all the answers

<p>Machine operators (C)</p> Signup and view all the answers

<p>Lower middle class (B)</p> Signup and view all the answers

<p>Personality traits (C)</p> Signup and view all the answers

<p>Cultural movements (D)</p> Signup and view all the answers

<p>Television commercials (A)</p> Signup and view all the answers

<p>Search engine optimization (A)</p> Signup and view all the answers

<p>Drip marketing (D)</p> Signup and view all the answers

<p>Offering contests and coupons (B)</p> Signup and view all the answers

<p>Social media marketing (A)</p> Signup and view all the answers

A model that outlines how a company creates value for its customers by combining different activities (i.e., primary and secondary activities) to create a unique customer experience.

Primary activities are the core processes involved in creating and distributing the product or service. They include inbound logistics, operations, outbound logistics, marketing & sales, and customer service.

Secondary activities support the primary activities and help the company function efficiently. They include firm infrastructure, human resource management, technology development, and procurement.

Inbound logistics are the activities involved in receiving, storing, and managing raw materials used in the production process.

Outbound logistics are the activities associated with delivering the finished product or service to customers.

The activities involved in transforming inputs into finished goods or services.

The activities involved in attracting and retaining customers, including marketing, advertising, and sales.

The activities involved in supporting customers after the sale, including resolving issues, providing information, and building relationships.

This refers to the activities involved in acquiring raw materials, parts, and other inputs needed for production. It includes sourcing, negotiating, and managing suppliers.

These techniques use traditional channels like newspapers, television, and radio to reach a large audience.

Leveraging online platforms such as websites, social media, and search engines to connect with potential customers.

Strategies aimed at reaching out to customers proactively, such as cold calling, sending newsletters, or using billboards.

Involves attracting customers by creating valuable content and online experiences that draw them in.

Marketing focused on specific groups or niches within a market to cater to their unique needs and interests.

A company's activities that are directly involved in creating value for customers, such as producing goods or providing services. This includes operations, marketing, sales, and customer service.

A specific set of activities that a company undertakes to deliver its offerings to customers. This includes activities like creating, communicating, delivering, and exchanging value.

The set of all the different offerings that a company makes available to customers.

The process of making sure that all the parts of a product or service work together correctly. This includes activities like quality control and testing.

The process of making sure that a company's operations are efficient and effective. This includes activities like process optimization and cost reduction.

The financial report that shows a company's revenue, expenses, and profit. This is a key indicator of a company's financial health.

A retail business model where a company owns and operates its own stores, rather than licensing them out to franchisees. This allows the company to have more control over its operations and branding.

The marketing mix refers to the set of controllable, tactical marketing tools that a company uses to produce the response it wants in the target market. It is often called the four Ps of marketing: product, price, promotion, and place.

Product refers to the goods or services that a company offers to its customers. It includes aspects like design, features, quality, and packaging.

Price refers to the amount of money that customers pay for a product or service. It involves setting a competitive and profitable price, considering factors like costs, demand, and competitor pricing.

Promotion refers to the communication strategies used to inform, persuade, and remind customers about a product or service. It encompasses activities like advertising, public relations, sales promotions, and personal selling.

Place refers to the distribution channels used to make products or services available to customers. It includes decisions on where to sell, how to distribute, and how to reach the intended target market.

Categorizing potential customers based on their socioeconomic status, including income level, occupation, and education.

Dividing customers based on their location, including urban vs. rural areas, population density, and access to infrastructure.

Analyzing customers based on their age, gender, generation, and family life cycle.

Understanding customers based on their values, beliefs, and lifestyle choices, including hobbies, interests, and social connections.

Grouping customers based on their financial services needs, retail preferences, transportation habits, and health care requirements.