MGT 3200 Lecture : Management Notes
Document Summary
3 ways to provide superior customer service: make it easy to complain, make it timely, personal response to the complaint, make sure your response to the complaint is effective. 3 ways to establish and maintain a positive relationship with suppliers: vertical integration, (forward) acquire suppliers organizations, (backwards) acquiring customer organizations, horizontal integration- buying your competitors, lock in long term contracts, reduce the number of suppliers. Rivalry among organizations: as rivalry increases so does competition, can rival on things like: price, quality, service and advertising, rivalry increases as the number if organizations increase and the market mature. Threat of new entrants: new entrants seek to gain market share. Increase competition, driving down prices and making older entrance improve their quality and service: the threat depends on the barriers to entry in an industry. 5 barriers to entry into an industry/ market: government policy, capital requirements, brand identification/ loyalty, cost advantages, distribution channels. Discussion of outside reading: avoid pricing yourself short .
