Study Sheet Carmax Analysis

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CARMAX- Relationship with Chapter 5-10
1. Resource and Capabilities
a. RESOURCES
i. Logistics
ii. Inventory Management
iii. Management Experience
b. CAPABILITIES
iv. Nationwide Standardization
v. Low Costs
vi. High-End Buyer Experience
vii. Strategic Management
viii. Reputable management/reputable company
c. USE VRINE CRITERIA TO ANALYZE THEIR RESOURCE AND CAPABILTIIES d. USE TABLE OF IMPORTANCE AND RELATIVE STRENGTH TO PLACE THEM WITHIN THE INDUSTRY 2. Competitive Advantage
e. Their characteristics of innovatory strategy
ix. They were new entrants to industry using same values x. They reconcile conflicting performance goalsThey combine low cost, high quality(because of checks and 125 points system), etc. xi. They reconfigured value chainSell used cars differently than any other past used car dealer f. What are their competitive advantages???

xii. Ability to provide high degree of customer satisfaction with the car buying experience xiii. Competitively low prices
xiv. Breadth of selection of the most popular makes and models xv. Quality of vehicles
xvi. Exclusive information systems
xvii. Locations of retail stores
3. Cost Advantage
g. Drivers
xviii. Economies of scale
xix. Economies of learning
xx. Production technique
xxi. Product design
xxii. Input costs
xxiii. Capacity utilization
xxiv. Residual(other) efficiency
1. All of these are described in the powerpoint, study notes and lecture notes h. Analyzing Costs(SHOW ON SLIDE 15 OF PPT#9)
xxv. Determine value chain(done below)
xxvi. Establish their relative importance in total cost of product xxvii. Compare costs by activity
xxviii. Identify cost drivers...
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