MKT 100 Lecture Notes - Lecture 2: Sk-Ii, Marketing Mix, Fixed Cost

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Fathima Saleem

Document Summary

A related marketing mix - the four p"s. The bases upon which the firm plans to build a sustainable competitive advantage. Sustainable competitive advantage something the firm can persistently do better than its competitors that is not easily copied and thus can be maintained over a long period of time. Variable costs aka cost of goods sold (cogs). Shipping charges, cost of ingredients/direct materials, hourly wages, bonuses, sales commission. Capital (one time): incurred independent of the quantity produced or sold. Operating: incurred independent of the quantity of produced or sold. Changes in the market result in companies to no longer grow. Get customers the merchandise they want, when they want, in required quantities, and lower cost i. e. netflix. Achieving high perceived value and effective branding and positioning i. e. ikea: unique brand w/ distinct value offering. Of importance in retailing: location i. e. starbucks, tim"s. Competitive intelligence (ci) used to collect and synthesize info.