BU111 Lecture Notes - Lecture 19: Corporate Social Responsibility, Mass Customization, Switching Barriers

104 views3 pages

For unlimited access to Class Notes, a Class+ subscription is required.

BU111–Lecture19–TechnologyFactorsandSocialFactors
Howcanyoucompeteifyouareasmallfirm?
Enterwithatotallydifferentproductinamarketthatlargefirmswon’tbeinterestedin
oNottheirmainstream–notinterestedormotivated
oNotwhattheyaregoodatorcaneasilyadjustto
Makingaproductwhichinvolvesbigchangetoproductionwillnot
motivatebiggercompaniestochangetheirproductandpursueyou
oMarginaretoosmallormarkettoosmall
oGointomarketwhereitdoesnotattractthebigcompaniesattention
Onceyouarestrong,moveupmarket!
o http://www.youtube.com/watch?v=_N1NzS4OJk&feature=related(until
4:03)
Porter’sFiveForcesandTechnology
RivalryandBuyers:Reducethebargainingofbuyersandyoucanchargethemhigherprices,
alsoyouwillnotneedtopaymuchmoney
Masscustomization:reducesbuyerpowerasyourbusinessistheonlyorselectfewthatoffers
whatthebuyerspecificallywants
PotentialEntrants:ifcustomersarelockedin,thatservesasabarriertoentryiftheyareunable
toattractothercustomers
Suppliers:havingstrongconnectionwithsupplierswillcreateahighswitchingcostthatwill
preventthemfromswitchingtootherbusinesses
Unlock document

This preview shows page 1 of the document.
Unlock all 3 pages and 3 million more documents.

Already have an account? Log in

Get access

Grade+
$10 USD/m
Billed $120 USD annually
Homework Help
Class Notes
Textbook Notes
40 Verified Answers
Study Guides
1 Booster Class
Class+
$8 USD/m
Billed $96 USD annually
Homework Help
Class Notes
Textbook Notes
30 Verified Answers
Study Guides
1 Booster Class