Show Menu
Cheatography
  1. Home >
  2. Business and Marketing >

MKTG501 Cheat Sheet Cheat Sheet (DRAFT) by

cheat sheet for uni course

This is a draft cheat sheet. It is a work in progress and is not finished yet.

Consumer Decision Process

Step 1
Need recogniton
Step 2
Inform­ation search
Step 3
Altern­ative evaluation
Step 4
Purchase
Step 5
Post purchase

Porter's 5 Forces

Force
Influences
Bargaining power of buyers
Number of customers, differ­ences between compet­itors, size of each customer order, buyer’s ability to substi­tute, buyer’s inform­ation availa­bility, switching costs and, price sensit­ivity
Threat of new entrants
Bargaining power of suppliers
Threat of substitute products
Rivalry amongst existing compet­ition
These forces can be used when assessing a market's attrac­tiv­eness. The lower each force the more attractive it is.

Porter's 5 Forces

Force
Influences
Bargaining power of buyers
Number of customers, differ­ences between compet­itors, size of each customer order, buyer’s ability to substi­tute, buyer’s inform­ation availa­bility, switching costs and, price sensit­ivity
These forces can be used when assessing a market's attrac­tiv­eness. The lower each force the more attractive it is.
  

Want-Got Gap

The want-got gap is a phenomenon that occurs when a consumer recognises a gap between their current state and their ideal state. Gaps can include a want, need or an opport­unity.

SWOT Analysis

Internal Factors
Strengths
Weaknesses
External Factors
Opport­unities
Threats
The SWOT analysis framework consists of internal factors (Strengths and weakne­sses), which can be controlled by the organi­zation, alongside external factors (Oppor­tun­ities and threats), which are outside the firm’s control.
  

PESTEL Analysis

Dimension
Examples
Political
Economical
Socio-­cul­tural
Techno­logical
Ecological
Legal
This particular framework analyses trends amongst different external dimensions that have the potential to impact industries and individual busine­sses.