BUS 338 Lecture Notes - Lecture 3: Breakcore, Reference Group, Takers

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 338
• Professor: Dave Thomas

Document Summary

Marketing: the management process through which products move from concept to customer cma. If there is anyone to buy what you make. Why they will buy what you make. What the competition is and how to beat them. What exactly does your product/innovation do? (what needs does it meet?) Sometimes individuals will add too many features due to interviews. Usually focus one 1 to avoid competition (niche-market) Drivers: size, growth, access, partners & channels, use case, segments. Necessary: high ltv, low cca, relationships, value differentiation. Inhibitors: price sensitivity, competition, distribution, sales complexity, substitutes: ltv lifetime value, cca cost of customer acquisition i. e. mcdonald = high cca b/w their ads are more expensive than food. Lifetime value of the customer vs cost of customer acquisition. Tesla was illegal to buy in certain us to protect local dealerships (online purchase = no dealerships) is it easy to enter a market if: segments ill-defined or limited growth.