BSM 100 Lecture Notes - Lecture 2: Microeconomics, Offshoring, Samsung Galaxy Note 7
17 Jan 2017
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Make meaning, not money. : increase quality of life, right a wrong, prevent the end of something good. Every company wants to remain relevant and survive: closest competitors. Those that produce similar products/services as your own. The company must know their consumers" needs, ensure brand loyalty (and expand it: new competition. The whole concept of value is a perception in the minds of consumers. And a company must strive to create and maintain that perception. First mover advantage (fma): in marketing strategy, first-mover advantage, or fma, is the advantage gained by the initial (first-moving) significant occupant of a market segment. Bleeding edge firm: a firm that does not get first-mover advantages. First mover disadvantage: the product is not ready (eg. samsung"s galaxy note 7 and its battery recall), the market is not ready. Leading edge firm: a firm with second-mover advantage. Publishing companies must adapt to the rise in ebooks.
