The value chain model is also known as Porter’s Value Chain model. Analysis is a business management tool that was developed by Michael Porter and described in his popular book Competitive Advantage: Creating and Sustaining Superior Performance in 1985.
Strategic management process is a method by which managers conceive of and implement a strategy that can lead to sustainable competitive advantage. It is the process of managing, planning, and analyzing in order to reach all organizational goals.
Strategic management can be described as the identification of the purpose of the organisation and the plans and actions to achieve that purpose. It is that set of managerial decisions and actions that determine the long-term performance of a business enterprise.
Brand equity is the value of the brand in the marketplace. We can say, the total accumulated value or worth of a brand. Financial accountants define brand equity as the total value of a brand as a separable asset and often called brand valuation or brand value.
Customer Based Brand Equity (CBBE) Model is also known as Keller's Brand Equity Model. CBBE concept is that the power of a brand lies in what customers have learned, felt, seen, and heard about the brand as a result of their experiences over time.
Strategic brand management process involves the design and implementation of marketing programs and activities to build, measure, and message brand equity. Strategic brand management process has four main steps .
Brand Management is the function of marketing techniques to a specific product, product line, or brand. It seeks to increase the product’s perceived value to the customer and thereby increase brand franchise and brand equity. The process of maintaining, improving, and upholding a brand so that the name is associated with positive results.
Majorly there are four methods for pricing determination strategies: 1. Cost based pricing 2. Break-Even Concept 3. Demand based pricing 4. Pricing related to the market.
New product development process plays a crucial role in deciding the future of the organisation. Every product has a life of its own and it becomes obsolete after a certain period of time. It is essential to develop new products or alter or improve the existing ones to meet the oft-changing customer needs.
Demand forecasting is an attempt to estimate the future level of demand on the basis of past as well as present knowledge and experience, to avoid both under production and overproduction. Without forecasting, forward planning will be directionless and meaningless.
The buying behaviour of organizations that buy goods and services for use in the production of other products and services that are sold, rented or supplied to others. Organisational buying is also called institutional buying and when the products are used in their own production process, the buying process is called industrial buying.
Consumer behaviour refers to the actions of consumers in the market place and the underlying motives for those actions. Marketers expect that by understanding what causes consumers to buy particular goods and services they will be able to determine which products are needed in the market place, which is obsolete, and how best to present the goods to the consumers.
Marketing Environment is the combination of Internal factors and the External factors and forces outside marketing that affect top-level management’s ability to develop and maintain successful relationships with its target customers.
Marketing management process consists of four key stages, namely Market analysis, Marketing planning, Implementation of the marketing program, Control of the total marketing efforts.
Marketing Concept is the philosophy that an organization should analyze the needs of their consumers and then make decisions to satisfy those needs, better than the competition. There are five different marketing concepts: Production, Product, Selling, Marketing, Social Marketing Concept.
Marketing Mix: The set of controllable tactical marketing tools – product, price, place and promotion – that the firm blends to produce the desired response in the target market. The mix consists of 4Ps, product, price, place and promotion.
Market Segmentation is the sub-dividing of a market into homogeneous subsets of customers, where any subset may conceivably be selected on a market target to be reached with a distinct marketing mix. Types of market segmentation are geographic, demographic, psychographic and behavioural segmentation.
A CASE (Computer Aided Software Engineering) tools mean any tool used to automate some activity associated with software development. Some of these CASE tools assist in phase-related tasks such as specification, structured analysis, design, coding, testing etc.
Risk management aims at reducing the chances of a risk becoming real as well as reducing the impact of risk that becomes real. Three activities in risk management are risk identification, risk assessment, risk mitigation.
COCOMO (Constructive Cost Estimation Model) model was proposed by Boehm (1981). According to Boehm, software cost estimation should be done through three stages: Basic COCOMO, Intermediate COCOMO, and Complete COCOMO.
Software maintenance is the process of modifying a software system or component after delivery to correct faults, improve performances or other attributes, or adapt to a changed environment.
An entrepreneur is one who always searches for change, responds to it and exploits it as an opportunity. Innovation is the basic tool of entrepreneurs, the means by which they exploit change as an opportunity for different business of service.
Entrepreneurship is the process of designing, launching and running a new business, which is often initially a small business along with any of its risk in order to make a profit. The people who create these businesses are called entrepreneurs.
A good software design implies clean decomposition of the problem into modules and the neat arrangement of these modules in a hierarchy. The primary characteristics of neat module decomposition are low coupling and high cohesion. Cohesion is a measure of functional strength of a module.
Software design deals with transforming the client requirements, as described in the SRS document, into a form (set of documents) that is suitable for implementation in a programming language.
At a technical level, software engineering begins with a series of modeling tasks that lead to a complete specification of requirements and a comprehensive design representation for the software to be built. The first technical representation of a system which is the analysis model, actually a set of models. There have been many methods proposed for analysis modeling.
A software requirement specification (SRS) is a comprehensive information/description of a product/system to be developed with its functional and non-functional requirements. The software requirement specification (SRS) is developed based on the agreement between customer and supplier.
The requirements elicitation and specification phase starts when the feasibility study phase is completed and the project is found to be technically and feasible. The goal of the requirements analysis and specification phase is to understand client requirements and to systematically organize these requirements in a specification document.
Evolutionary model is also referred to as the successive versions model and sometimes as the incremental model. In Evolutionary model, the software requirement is first broken down into several modules (or functional units) that can be incrementally constructed and delivered.
The spiral model is a software process model that couples the iterative nature of prototyping with the controlled and systematic aspects of the linear sequential model. Barry Boehm mentioned the Spiral model in this paper (1986).
A prototype model is a toy/demo implementation of the actual product or system. A prototype model usually exhibits limited functional capabilities, low reliability, and inefficient performance as compared to the actual software.
In Iterative waterfall model, the feedback paths are provided from every phase to its preceding phase. In practice, it is not possible to strictly follow the classical waterfall model for software development work. In this context, we can view the iterative waterfall model as making necessary changes to the classical waterfall model so that it becomes applicable to practical software development projects.
The classical Waterfall Model was the first Process Model. It is also known as a linear-sequential life cycle model. It is very simple to understand and use. Classical waterfall model is the earliest, best known and most commonly used methodology.
A software development life cycle (SDLC) is a series of identifiable stages that a software product undergoes during its lifetime. A software development life cycle model (also called process model) is a descriptive and diagrammatic representation of the software life cycle.
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