Management and Organizational Studies 1021A/B Lecture Notes - Wonder Bread, Monopolistic Competition, Perfect Competition

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: Kevin Thompson

Document Summary

Environment around company keeps shifting; everything keeps changing. Marketer s role: to identify forces and understand how these can help the company. Look for forces that cause us to stumble as well. Two-pronged attack: cost-benefit analysis, doing two things at the same time. Study of population factors: education level, literacy level. More varied interests as level goes up. Drives the market: population have different needs/demands, that comprises the market to produce what is needed/wanted, different ages have different income levels, marketers are selling products to people i. e. demographics, target a population with our message. Product solutions have to be different to target the needs of the respective generations. Consumers also want to try different things. Three different types of income: gross, disposable, discretionary. Enablers to do a better job for what companies do. Technology infused in product quality: design, build and sell it better, communicate better. How can technology help you, and how can it hurt you.