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Lecture

BUS 446 - Lecture 2

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Department
Business Administration
Course
BUS 446
Professor
Lindsay Meredith
Semester
Fall

Description
Debate  Given a topic and a neighbouring team the opposite one  There are no easy answers in Marketing  2 opposing views  Team 9 + 8 topics o Team 9: Macrodeterminants are too general to be of any use  Concentrate on the customers and what they want o Team 8: You’re wrong.  Example: Trying to use a price point as a competitive strategy is stupid o Team 1: Don’t do a price war  Just losing on profit margins o Team 2: Price competition is smart  Toughest, strongest cue  Scare new competitors out of marketplace  10 minutes each  Class weighs in for 10 minutes  Time Frame  9:30-10:40 – Talking from Lindsay  10:40-10:50 - Break  10:50-11:20 – Debate from two teams  11:20-11:30 – Break, First formal presenters get set up  11:30 up to 12:30 – Presentation; Starts to hurt you if you go over  12:30-1:00 – Defense for Presentation Macrodeterminant  Sociocultural o Diversity o Religion o Example: Parents are not westernized  Children are more healthy o Example: Smoking  Not socially acceptable in Vancouver/Canada  Developed in the last 20-30 years  Economic  Politico-Legal  Demographics o What business do you want to be in for the next 15 years?  Rising demographic of maturing and retiring people  Pharmaceuticals are looking at age-related problems such as Cholesterol and heart-related items  Wheel chairs, Bath tubs, Retirement homes   Technology Macrodeterminants  A. Socio Cultural Determinants Impact Psychographics o Lifestyle  Health o Values  Hard Work o Attitudes  Greening  B. Economic Determinants Impact o Economic Cycles  Recession + Booms o Inflationary Pressures  “Tight Money” Policies o Interest Rate Changes  Commercial + consumer credit o International Exchange Rates  Production costs + pressures to source offshore o NOTE: Stupid to base your strategy on Price because it changes so easily – example: film industry based off of cheap Canadian dollar  Largest video (game) producers in the world in BC  Price advantage here because of skilled workforce/talent  Use the profit to turn it into a sustainable advantage o NOTE: Can hit you on the supply side OR the demand side  ?  C. Politico-Legal Determinants Affect: o International Trade Agreement
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