MGCR 331 Lecture Notes - Lecture 3: Cost Leadership, Experience Curve Effects, Surefire

• School: McGill University
• Department: Management Core
• Course: MGCR 331
• Professor: Kartik Ganju

Document Summary

Valuable: apple use lots of money to build the brand. Rare: rare companies has a brand like apple. Imperfectly imitable: hard for other companies to copy apple"s brand. Non-substitutable: other companies don"t have a brand like apple. * apple adopted third-party erp because the firm competes on product uniqueness rather than operational difference: infrastructure: general management, planning, finance, and is, hrm: recruiting, hiring, training, and development, technology: research and development, procurement. Have an idea of a product, components of the product. Brand: brand: the symbolic embodiment of all the information connected with a product or service, a strong brand: Consumers use it to lower search cost: technology can play a critical role in rapidly and cost- effectively strengthening a brand, viral marketing: leveraging consumers to promote a product or service. Scale: scale advantages: advantages related to a firm"s size, businesses benefit from economies of scale.