...COBIT provides good practices for the management of IT processes in a manageable and logical structure, meeting the multiple needs of enterprise management by bridging the gaps between business risks, technical issues, control needs and performance measurement requirements. If you believe as we do, that COBIT enables the development of clear policy and good practices for IT control throughout your organisation, we invite you to support ongoing COBIT research and development. There are two ways in which you may express your support: (1) Purchase COBIT through the association (ISACA) Bookstore (please see the following pages for order form and association membership application. Association members are able to purchase COBIT at a significant discount); (2) Make a generous donation to the IT Governance Institute, which conducts research and authors COBIT. The complete COBIT package consists of all six publications, an ASCII text diskette, four COBIT implementation/ orientation Microsoft® PowerPoint® presentations and a CD-ROM. A brief overview of each component is provided below. Thank you for your interest in and support of COBIT! For additional information about the IT Governance Institute, visit www.itgi.org. We invite your comments and suggestions regarding COBIT. Please visit www.isaca.org/cobitinput. Management Guidelines To ensure a successful enterprise, you must effectively manage the union between business processes and information systems. The new Management...
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...* Michele Grieco July 20, 2015 Prof. Gregory Gleghorn What is transparency in the context of IT governance, and why is it important? How does the COBIT framework provide for internal audit and corrective action? The transparency of IT Governance is to cover the culture, organization, policies and practices. This type of transparency in the government financial management is very important in a way to produce a proper, complete performance measurement system and to provide insufficient disclosure of these performances information to the broader public. This is why the point of transparency becomes a measurement for health and security in governments, leadership and business in almost all the countries in the world especially in the well developed once, because the public certainly wants the government to be transparent. Information Technology settles how well services are provided and how good the company is satisfying its customers. By providing services the companies can also expose their businesses to risk that can affect with their daily operations and transactions. In this case management must be able to make precise decisions in a way to minimize any risks that could affect the company really badly. It's virtually impossible to have too much transparency or education about IT governance, in fact both of them can go well together and so the more transparency of the governance practices, the more confidence in the governance there will be. Companies with more effective...
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...Segmentation, Targeting, and Positioning Segmentation, targeting, and positioning together comprise a three stage process. We first (1) determine which kinds of customers exist, then (2) select which ones we are best off trying to serve and, finally, (3) implement our segmentation by optimizing our products/services for that segment andcommunicating that we have made the choice to distinguish ourselves that way. Segmentation involves finding out what kinds of consumers with different needs exist. In the auto market, for example, some consumers demand speed and performance, while others are much more concerned about roominess and safety. In general, it holds true that “You can’t be all things to all people,” and experience has demonstrated that firms that specialize in meeting the needs of one group of consumers over another tend to be more profitable. Generically, there are three approaches to marketing. In the undifferentiatedstrategy, all consumers are treated as the same, with firms not making any specific efforts to satisfy particular groups. This may work when the product is a standard one where one competitor really can’t offer much that another one can’t. Usually, this is the case only for commodities. In the concentratedstrategy, one firm chooses to focus on one of several segments that exist while leaving other segments to competitors. For example, Southwest Airlines focuses on price sensitive consumers who will forego meals and assigned seating for low...
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...STP template Instructions: What’s it for? To prepare for tutorial 2.When is it due? Bring it along to the tutorial 2.By whom? Do it as a group. If you do not get a chance to sit as a group, do it individually before the tutorial.Is it compulsory? No, the “Memo” was compulsory. However, having this completed will be a great help in preparing for your coursework and the time spent during the tutorial will be much more productive!Tips: fill in as much as you can. When filling up the template always think of the arguments you have to support your decisions (you will need to demonstrate your argumentative and critical skills in the coursework). | Segmentation Identify key segmentation variables and segment the market into three segments.Key segmentation variables (think through as many as possible):‘Umbrella’ variable (e.g, benefits sought, lifestyle, age, income etc.):Your identified three distinct segments (they shouldn’t overlap): * Segment 1: People with chronic back pain. - Segment 2:People over the age of 55 * Segment 3:People who are of mid-level income , they don’t want to perform surgery since expensive and want a substitute with is of same quality but at a more acceptable cost. | Targeting Evaluate market segments and choose the target segment.Market attractiveness criteria (segment size, segment growth, segment profitability etc.):Business strength criteria (resources, skills and competencies etc.):How would you rank the segments based on the...
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...1. Would consider Demographic segmentation, because she just starting her own small business, which is a sole priority ship. Which is for people working as an entrepreneur as herself. So she would have base some of it off of who like chocolate and who doesn’t also she need to know which chocolate people would buy more often, and where should she open her business. So that was demographic segmentation is when you want to know things about your consumer to get there interest in what you’re doing and if the location is right for that. So when you’re starting your own business you have to do a lot of things before you can even see progress from it. So it takes over time before you’re business start’s going unless you brand with another business which will be a b2b because that can get you off your feet with this business as well. 2. A segment would be concerted strategy because it focus on one aspect which is pet supply store. So it’s targeting animal’s owner to come to a store that can have deals for them that they will enjoy for their animals. Because the customer is always right. It also fall into value proposition, which give the customer a good perspective on they want as I proclaimed. They can also now in days buy their product online and walk into the store. 3. Micromarketing is basically when you have a specific item that you want and you’re interested in the product. People have lots of reason to be specific maybe for special occasion or just have a great day by...
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...egmentation, Targeting, and Positioning Segmentation, targeting, and positioning together comprise a three stage process. We first (1) determine which kinds of customers exist, then (2) select which ones we are best off trying to serve and, finally, (3) implement our segmentation by optimizing our products/services for that segment andcommunicating that we have made the choice to distinguish ourselves that way. Segmentation involves finding out what kinds of consumers with different needs exist. In the auto market, for example, some consumers demand speed and performance, while others are much more concerned about roominess and safety. In general, it holds true that “You can’t be all things to all people,” and experience has demonstrated that firms that specialize in meeting the needs of one group of consumers over another tend to be more profitable. Generically, there are three approaches to marketing. In the undifferentiatedstrategy, all consumers are treated as the same, with firms not making any specific efforts to satisfy particular groups. This may work when the product is a standard one where one competitor really can’t offer much that another one can’t. Usually, this is the case only for commodities. In the concentratedstrategy, one firm chooses to focus on one of several segments that exist while leaving other segments to competitors. For example, Southwest Airlines focuses on price sensitive consumers who will forego meals and assigned seating for low...
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...Starbucks 1.Using the full spectrum of segmentation variables, describe how Starbucks initially segmented and targeted the coffee market.? 2. What changed first—the Starbucks customer or the Starbucks Experience? Explain your response by discussing the principles of market targeting.? 3. Based on the segmentation variables, how is Starbucks now segmenting and targeting the coffee market? 4. Will Starbucks ever return to the revenue and profit growth that it once enjoyed? Why or why not? - Starbucks had made a goal and their initially segment was a Demographic segmentation -Starbuck or Schultz intentions to open 10,000 new stores in just four years and then push Starbucks to 40,000 stores. -In 20 years time, Schultz grew the company to almost 17,000 stores in dozens of countries. Starbucks targeted the customer who fell in love with the Starbucks Experience who was: -Wealthier, better educated, and more professional than the average American. - More likely to be female than male. - Between the ages of 24 and 44. Starbucks customer changed first. There simply were not enough traditional customers around to fuel the kind of growth that Schultz sought. Starbucks became a less attractive place to hang out. The new breed of customer was less affluent, less educated, and less professional. As the customer profile evolved, the Starbucks Experience grew to mean something different. To the new breed of customer, it meant good coffee on the run. It was a place to meet and...
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...Market Segmentation of Kwality Walls Cornetto HUL had entered the ice-cream market through acquisitions of approximately 150 crores. It acquired Dollops from Cadbury’s in 1993 while it bought Kwality and Milkfood in 1995. Since Amul has entered into the ice-cream market, Walls has lost a huge market share to Amul. To again gain the lost market share, HUL has modified their market segmentation. On the basis of Density, it has segmented Indian market into Urban and rural area. It has decided to focus only on the urban segment specifically the top 6 metros of India. Over the years, it has expanded to the top 30 cities. The philosophy behind this decision is that the top 30 cities has 70% of total ice-cream consumers in India, i.e. the 30:70 principle. Kwality walls just want to increase the consumption of ice-creams in the markets in which they are present rather than entering into new market. HUL has also segmented the market based on demographics into three categories: Kids, Teenagers and Families. Cornetto as a brand Is targeted at teenagers while Paddle pop is for kids while red tub is for families. This kind of segmentation has allowed to create more consumption opportunity for different segments. For e.g. teenage hangouts for promotion of Cornetto. This segmentation also allows pricing based differentiation for the three segments. Paddle pop is sold at Rs.5 to Rs. 10, Cornetto for youth is priced between Rs. 20 and Rs. 30 while the family pack ice-creams are priced between...
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...Segmentation, Targeting, and Positioning Segmentation, targeting, and positioning together comprise a three stage process. We first (1) determine which kinds of customers exist, then (2) select which ones we are best off trying to serve and, finally, (3) implement our segmentation by optimizing our products/services for that segment andcommunicating that we have made the choice to distinguish ourselves that way. Segmentation involves finding out what kinds of consumers with different needs exist. In the auto market, for example, some consumers demand speed and performance, while others are much more concerned about roominess and safety. In general, it holds true that “You can’t be all things to all people,” and experience has demonstrated that firms that specialize in meeting the needs of one group of consumers over another tend to be more profitable. Generically, there are three approaches to marketing. In the undifferentiatedstrategy, all consumers are treated as the same, with firms not making any specific efforts to satisfy particular groups. This may work when the product is a standard one where one competitor really can’t offer much that another one can’t. Usually, this is the case only for commodities. In the concentratedstrategy, one firm chooses to focus on one of several segments that exist while leaving other segments to competitors. For example, Southwest Airlines focuses on price sensitive consumers who will forego meals and assigned seating for low prices...
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...Chapter 1 Segmentation A segmentation strategy begins by selecting the bases representing the core attributes of a group of existing potential customers. 1. It must be noted that a single characteristics is never used alone and that virtually all segmentation plans are in the forms of hybrid segmentation that include attributes from 2 or more. | |Consumer-rooted |Consumption-specific | |Facts |Demographic factors |use-related characteristics | | |Geographic factors |use-situation factors | |cognitions |Psychological factors |benefit sought | | |Psychographic (lifestyle) characteristics |hybrid segmentation | | |Sociocultural variables | | 1. Facts can be determined from direct questioning and categorized by a single objective measure. (Quantitative) 2. Cognitions...
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...The Therme Vals / Peter Zumthor Peter Zumthor designed the spa/baths which opened in 1996 to pre date the existing hotel complex. The idea was to create a form of cave or quarry like structure. Working with the natural surroundings the bath rooms lay below a grass roof structure half buried into the hillside. The Therme Vals is built from layer upon layer of locally quarried Valser Quarzite slabs. This stone became the driving inspiration for the design, and is used with great dignity and respect. “Mountain, stone, water – building in the stone, building with the stone, into the mountain, building out of the mountain, being inside the mountain – how can the implications and the sensuality of the association of these words be interpreted, architecturally?” Peter Zumthor This space was designed for visitors to luxuriate and rediscover the ancient benefits of bathing. The combinations of light and shade, open and enclosed spaces and linear elements make for a highly sensuous and restorative experience. The underlying informal layout of the internal space is a carefully modelled path of circulation which leads bathers to certain predetermined points but lets them explore other areas for themselves. The perspective is always controlled. It either ensures or denies a view. The fascination for the mystic qualities of a world of stone within the mountain, for darkness and light, for light reflections on the water or in the steam saturated air, pleasure in the unique acoustics...
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...8 IDENTIFYING MARKET SEGMENTS AND TARGETS Markets are not homogeneous. A company needs to identify which market segments it can serve effectively. Such decisions require a keen understanding of consumer behavior and careful strategic thinking. To compete more effectively companies are now embracing target marketing. Effective target marketing requires that marketers: Identify and profile distinct groups of buyers who differ in their needs and preferences. Select one or more market segments to enter. For each target market, establish and communicate the distinctive benefit(s) of the company’s market offering. Levels of Market Segmentation The starting point for discussing segmentation is mass marketing. In mass marketing, the seller engages in the mass production, mass distribution, and mass promotion of one product for all buyers. A) The argument for mass marketing is that it creates the largest potential market, which leads, to the lowest costs that in turn can lead to lower prices or higher margins. Segment Marketing A market segment consists of a group of customers who share a similar set of needs and wants. A) The marketer does not create the segments. B) The marketer’s task is to identify the segments and decide which one(s) to target. C) A flexible market offering consists of two parts: 1) A naked solution containing the product and service elements that all segment member’s value. 2) Discretionary...
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...Chapter 8: Identifying Market Segments and Targets GENERAL CONCEPT QUESTIONS Multiple Choice 1. In ________ marketing, the seller engages in the mass production, mass distribution, and mass promotion of one product for all buyers. a. group b. mass c. general d. segmented e. differentiated Answer: b Page: 226 Difficulty: Medium AACSB: Analytic Skills 2. The argument for ________ marketing is that it creates the largest potential market, which leads to the lowest costs, which in turn can lead to lower prices or higher margins. a. niche b. micro c. macro d. differentiated e. mass Answer: e Page: 226 Difficulty: Medium AACSB: Reflective Thinking 3. A ________ consists of a group of customers who share a similar set of needs and wants. a. market target b. market group c. market slice d. market segment e. market level Answer: d Page: 226 Difficulty: Medium AACSB: Analytic Skills 4. A ________ consists of two parts: a naked solution and discretionary options. a. differentiated market offering b. flexible market offering c. rigid market offering d. vertical market offering e. horizontal market offering Answer: b Pages: 228 Difficulty: Hard AACSB: Analytic Skills 5. If a marketing manager observes that his or her market shows no natural segments and consumers seem to have roughly the same preferences, the marketing manager will most likely be faced with a ________ preferences pattern. a. homogeneous b. heterogeneous...
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...Assignment 2: Operations and Long –Term Investment Decision Joanne T. Johnson Eco 550 March 20, 2014 Professor Jae – Kwang Hwang Operations and Long –Term Investment Decision Introduction The grocery market is filled with various options for microwavable food depending on the preferences of the consumers. Instead of the traditional use of the oven many families now use the microwave because of their busy lifestyles. The variety of healthy low calorie -microwave food has made shopping much easier for today’s busy consumer. Low calorie labels are regulated by the Food and Drug Administration (FDA) and require food “labels claiming low-calories must not have more than 40 calories for a given reference amount (except sugar substitutes)”. (The Calorie Control Council, 2014) Healthy low-calorie microwave foods have come a long way since the first Swanson pre-packaged TV dinner in the 1950’s. The meal tray was heated in the oven and consisted of a small portion of meat, two vegetables and dessert. The top two competing manufacturers of microwavable low-calorie foods are Lean Cuisine owned by Nestle and Healthy Choice owned by ConAgra. Both leaders in the frozen food market began in the 80’s. Healthy Choice works rigorously with the FDA to assure foods qualify under government health standards for healthy low calorie foods. Like all businesses these two businesses need a financial business plan that allows them to assess the company’s results and set targets for future...
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...BUS 560 Exam (Chapters 1-5) Study Guide Questions These exam study questions will enable you to see whether you possess the level of knowledge necessary to pass a specific exam prior to actually taking it. Although these sample exam questions do not indicate the full range of difficulty you would find in the actual exam, they will help you assess your knowledge level. They also help you get familiar with the type of questions that may appear during the actual exam, they are built in the same environment as the actual exams. 1. Organizations expand into new products, new markets, and even new industries. In this process, the organization's original purpose may become irrelevant. In these circumstances the organization can be best described as a A. drifting organization. B. functional organization. C. horizontal organization. D. cooperative organization. 2. The core things that an organization does well are known as its A. distinctive values. B. distinctive competencies. C. distinctive ideals. D. distinctive technologies. 3. Which of the following statements about a mission statement is true? A. Even though no one denies the importance of the mission statement, it is the least used of all of the management tools. B. An effective mission statement takes an internal organizational focus. C. It should be focused on the physical product or service that the organization is offering at present. D. It should be focused on the broad class of needs that the organization is...
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