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Designing brands to appeal to different market segments.

Market segmenting is dividing the market into groups of individual markets with similar wants or needs that a company divides into distinct groups which have distinct needs, wants, behavior or which might want different products & services. The people in a given segment are supposed to be similar in terms of criteria by which they are segmented and different from other segments in terms of these criteria. EXAMPLE: gender, price, interests.

Issue: How to position it. Example - price discrimination in cinema.

How to deal with already existing customers:

1) Is this customer at high risk of canceling the company's service?

2) Is this customer worth retaining?

3) What retention tactics should be used to retain this customer?

Talk about MarketPlace6 and segments there.

85. The dominant stereotype: business is unethical in itself.

No business - no employment, no competition, no innovation, no products, nothing. So there are always good and bad sides.

Regulation has to be developed enough to limit possible exposures, prevent companies from taking excessive risks and punishing for providing a deceiving or entirely wrong information about state of affairs.

Talk about Enron, Lehman Brothers, mention some CSR initiatives of Apple, car manufacturers, etc.

Talk about trade unions and their importance when they are bargaining conditions for their members.

Recommendation: everyone should start from himself to make the world better.

86. How does CSR fit into overall corporate strategy and why has CSR become so important?

CSR is a form of corporate self-regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism whereby business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms.

Benefits - create value, shares value, promote competitiveness and innovation, sustainability, integrates business into the community, mitigates operational impact, operational risks, supports external relationships, corporate philanthropy is good for those who are in need.

Serve customers and other stakeholders, and not your own ego or business owners only.

87. How to build a CSR report?

CSR reports are seen as increasingly strategic documents that should offer a balanced, objective and reasonable assessment of almost every aspect of a firm's non-financial performance.

There are clear benefits for organizations that undertake quality CSR reporting: it allows them to demonstrate their interest in the environment, their employees and communities; it builds trust and promotes transparency; and solicits feedback on their performance from a growing number of stakeholders.

What form of information should be used? It must be presented for different segments from different standpoint. For environment protection organizations it must be in the form of "pollution reductions, elimination of waste", while the business audience will probably understand better financial benefits for the organization. Deciding upon which framework to adopt depends on your business type, stakeholder profile and objectives for reporting.



Everything we do has an effect on other people. It is the same for businesses, large and small, public or private, that their actions affect a large number of stakeholders.

88. Negotiation leverage: persuasion, framing and power.

Persuasion is a form of social influence. It is the process of guiding oneself or another toward the adoption of an idea, attitude, or action by rational and symbolic (though not always logical) means. Propaganda.

A frame in social theory consists of a schema of interpretation — that is, a collection of anecdotes and stereotypes—that individuals rely on to understand and respond to events. In simpler terms, people have, through their lifetimes, built series of mental emotional filters. They use these filters to make sense of the world. The choices they then make are influenced by their frame or emotional filters.

Power is a measure of an entity's ability to control its environment, including the behavior of other entities. The term authority is often used for power, perceived as legitimate by the social structure. Power can be seen as evil or unjust, but the exercise of power is accepted as endemic to humans as social beings. Balance of power. Ideal variant: all parties to all relationships have some power.

Sources of power: authority, social class, charisma, expertise, knowledge, skills, celebrity, moral persuasion, traditions, force.

89. The transformation: from socialism to market economy.

USSA was disintegrated in 1991. Hungary was the leading country to shift to market economy. Transformation is a very slow and (in some countries) not welcomed approach that implies: 1) liberalizing economic activity, prices, and market operations, along with reallocating resources to their most efficient use; 2) developing indirect, market-oriented instruments for macroeconomic stabilization; 3) achieving effective enterprise management and economic efficiency, usually through privatization; 4) imposing hard budget constraints, which provides incentives to improve efficiency; 5) establishing an institutional and legal framework to secure property rights, the rule of law, and transparent market-entry regulations.

90. Foreign capital in CEE: positive and negative aspects.

Positive aspects: New markets, large population, developing and growing economies, changes in ownership structures- all of these points could promise high returns on investments.

Negative aspects: Market vulnerability, dynamics volatility, defaults in the past, high loads of sovereign debt, usually large-scale governmental interference, different cultures, corruption, insufficient guarantees of ownership, macroeconomic risks (exchange rate, inflation, GDP growth rate decline).

91. Concept of “strategic window” (the process of identifying and exploiting opportunity).

Temporary period of 'alignment' or 'fit' between the competitive capabilities of an organization and the key requirements of the existing or new markets it intends to compete in. Short timeframe during which an opportunity must be grasped or lost.

Often, a window of opportunity closes quickly, meaning that someone must take a decisive action at the time or risk wondering what would have happened had he or she acted. When a window of opportunity opens for you, take the time to consider it. Whether someone is offering to pay for college or blueberries are on sale, there are potential ramifications to think about. In the first example, for instance, someone may only be offering to pay for a specific educational goal, like a degree in a subject you are not very interested in, making it an opportunity with strings attached which may come back to haunt you. In the second instance, the blueberries may be on sale because they are about to rot, so take the time to examine them carefully before making the plunge.

92. Strategic decision making processes and their stages.

In general strategy may be defined as the long term direction and scope of an organization to achieve competitive advantage through the configuration of resources within a changing environment for the fulfillment of stakeholders aspirations and expectations.

1) Identify and Understand (Acting on bad information is worse than not acting at all, To protect our businesses, we need to keep a close eye on market dynamics. Talk to customers, partners, and vendors). 2) Analyze Risks ( Sit at a whiteboard with your management team and consider the new risks in the equation. Break these down into two groups: risks I can control and risks I can’t control. 3) Act (stop bleeding, if the project is feasible, undertake it). 4) Close The Loop (Iterate, constantly communicate with the team and customers, stay engaged).

93. Perceiving and understanding other members of organization

Between work and all the other demands of daily living, it's easy get a little irritable and react with anger when people behave in ways that we perceive as rude, irritating, inconsiderate or just plan stupid. However, although we do not have to like or agree with what some people may do, if we could just stop and think a moment about why a person may be behaving a certain way, we may begin to see their behavior in a different light.

1) We are all different, should not expect everyone to react in the same way; 2) Don't jump to conclusions, consider reasons that stay behind certain things, return a friendly word; 3) empathize, try to relate to others, bad driver on the road; 4) demonstrate understanding, there are reasons for people not to be nice; 5) People do the best they can at that moment in time. If they could have done better they would have. 6) Show compassion, maybe a person has a difficult life, that's the thing, we don't know. Be friendly anyway, be thankful.

There are still some things to think about: Business is cruel. You are in or out and some people may be interested in you leaving the organization for a number of reasons. Deploy all your best, but don’t cross the line with moral principles.

94. Attitudes and changing organizational behavior: evaluating and managing social change in organization.

Social change is a very basic term and must be assigned further context. It may refer to the notion of social progress or sociocultural evolution; the philosophical idea that society moves forward by dialectical or evolutionary means. It may refer to a paradigmatic change in the socio-economic structure, for instance a shift away from feudalism and towards capitalism.

Prominent theories of social change:

1) Hegelian: The classic Hegelian dialectic model of change is based on the interaction of opposing forces. 2) Marxist: Marxism presents a dialectical and materialist concept of history; Humankind's history is a fundamental struggle between social classes. 3) Thus one may think of the Heraclitan model as parallel to that of a living organism, which, in order to remain alive, must constantly be changing. In order to stay still you have to move; 4) Resource-based economy: Jacque Fresco's concept of a resource-based economy that replaces the need for the current monetary economy, which is "scarcity-oriented" or "scarcity-based".


Date: 2015-02-03; view: 632


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