MKT 100 Lecture Notes - Lecture 1: Variable Cost, North American Free Trade Agreement, Fixed Capital

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Yanina Chevtchouk

Document Summary

Company 3 factors: core competency: is fundamental knowledge, ability or expertise in a specific subject area or skill set that allows an organization to beat its competitors. Customer service, operations, low price points: resources: anything that can be converted into money or assets. Patents, land, plants, access to finance: processes: systematic series of actions directed to some end. Competitors: are firms which are trying to fulfill the same want/need in the same way you are. Substitutes: are firms which are trying to fulfill the same want/need in a different way than you. Indirect competition: are offering a similar good or service as you are. Direct competitors: are offering a similar good or service to the same class of customer as you are. Indirect competitors: people who also produce cars for other customers, people who can afford it, toyota, honda, Direct competitors: higher ends - mercedes, lamborghini, ferrari, mclaren.