Management and Organizational Studies 4410A/B Lecture Notes - Lecture 2: Athleisure, Wear-Tv, Starbucks

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 4410A/B
• Professor: John White

Document Summary

If companies don"t change, then they won"t survive in the market. Forecasts: direction of environmental change, scope of environmental change, speed of environmental change. In-class examples: blackberry failure in hardware was due to lack of the above forecasts. The key external forces: political/legal, examples, uber v. taxi. Increased disposable income due to increase in minimum wage: technological, global, competitive. Industry life cycle: the life cycle of an industry refers to the stages that occur over the life of an industry, cycle consists of: Introduction: develop product and get users to try it, generate exposure so product becomes standard , characterized by, products are unfamiliar to consumers, market segments not well defined, product features not clearly specified, competition tends to be limited. Growth: brand recognition, differentiated products, support value chain activities, characterized by, strong increase in sales, attractive to potential competitors, primary key to success is to build consumer preferences for specific brands.