Evaluating Performance
What are the three types of benchmarking (comparing organization performance)
internal, competitive, and non-competitive
what are the two touchpoints/moments of truth
Acquistion- learn +make purchase
Utility- experience/useage
What is the process of target costing briefly
What were some of SEARS value propositions
-follow geographic trends of rising suburbs
-creating credit card
-white labelling/private-brand
-mail-to-order
downfalls of cross-functional teams
How to calculate BE analysis
FC over contribution margin (price-VC)
experience greater than or equal to expectations
Name the four utilities
form, possession, time + place
What was the main problem with Coolest Cooler
Supply Chain issues for mass production with variety of components and overpromising on features
upsides of cross-trained managers
understand all base functions, supplier's role, customer's needs, can collaborate
name some of the items on the balanced scorecard
customer expectation, financial performance, future capability development, + operational excellence,
what does the value proposition do
set customer expectations, and define what company needs to do to meet them
Name control decisions
What was the Value Gap Walmart addressed
high product variety + low costs (EDLP) to rural communities
what is the defining feature of services
intangability- has no inventory + high cutomer contact
number one important thing for introducing new product to market
ensuring it meets objectives on margin and sales volume
agility, innovation, delivery, quality, and cost
What causes the Bullwhip effect?
small changes upstream in retail with safety stocks cause big changes downstream in SC
What was the ultimate downfall of SEARS
cash flow as the new CEO Lampert was trying to liquidate SERAS for all its money through ESL investment + Seritage Growth of which he both also owned
measurement equation
understanding + behavior + execution = winning results
How to calculate NPV
initial outlay- (CF/(1+r)^n) +recouped costs
Name some components of the Cycle of Satisfaction
deep customer insight, conceptualize + develop product, verify financial viability, + invest in next gen product
What are the stages of the product lifestlye?
intro, growth, maturity, decline, and product extension
How did Walmart capture data
POS systems, customer loyalty cards, and online shopping data
How do you classify + segment customers
Pareto Principle- classify first on sales and then by strategic accounts