MKT 100 Lecture : Lecture notes for MKT100
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MKT 100 Full Course Notes
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The supply of products and processes is constantly changing. The variation in the consumer demand is constantly changing. Supply will shift to serve the demand of the most profitable market segments. Competitions forces sellers to try new ways of serving customers and reducing costs. Sellers learn directly and by observing other sellers how to add customer and shareholder value. Effective products and processes are quickly imitated and improved. Pure monopoly: one seller who sets the price for a unique product. Oligopoly: few sellers who are sensitive to each other s prices. Monopolistic competition: many sellers who compete on non-price factors. Market share share of a total industry sales/units. Brand share consumers first brand comes to mind. Brand voice share brand media spend within industry. Research and development spend vs. industry; indicator new product innovation. Bank cost borrowing act regulates interest rates bank can change as well as consumer information. Decrease in input costs such as labor costs.
