OHIO ITS 444 - Terms and Concepts in Reading (8 pages)

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Terms and Concepts in Reading



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Terms and Concepts in Reading

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Pages:
8
School:
Ohio University
Course:
Its 444 - Mgt-communi Resourc
Unformatted text preview:

Terms and Concepts in Reading 1 Why do strategic management Market research tools Segmenting Targeting Positioning Competitive research Importance of benchmarking From single product marketing to niche marketing to particle marketing Criticality of life cycle marketing Justification of capital construction funds Single provider implications for strategic management More terms and concepts Trends in communication Preference for bundled packages new media households high income consumers in early phases Jumping the S curve First to market acceptance versus first to market Need for qualitative and quantitative data PEST Political economic sociological technical variables a telecommunications based provider should never just consider its immediate environment but also those of its suppliers customers and analogous areas The main strategic issues identified by telecommunications companies in general are competition deregulation falling costs and prices downsizing adding value globalization market focus strategic alliances and what to do about the Internet F Mi S Curve Units sold time Product diffusion curve Innovators Early majority 2 5 13 5 34 Early adopters Laggards 34 Late majority 16 Emergent economic developments Aggregation how firms expand and retain their customer base Complementation synergy of two or more firms cooperating to develop new products or markets Consolidation mergers or acquisitions of competitors Disintermediation loss of traditional distribution markets lack access to customer base because of new firms that directly link producers with consumers Tertiary analysis study of externalities aimed at forecasting development of new markets precipitated by advance of technology Convergence traditional sector of communication is either invaded by or invades an unrelated sector as result of tech innovation Dynamics of consumer demand Shift from producer to consumer control Production cost reductions Mass customization Product life cycle contraction Value of time and convenience Sensitivity to discounting Consumer service and post purchase satisfaction Quality Value added design


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