[BSM 600] - Midterm Exam Guide - Everything you need to know! (27 pages long)

• School: Ryerson University
• Department: Business Essentials
• Course: BSM 600
• Professor: Tim Pervin

Document Summary

Harry potter books being sold on amazon - strategy is to get more customers at a lower cost. Coca cola - strategy: how it is sold. Mcdonald"s sales have been (at best) flat. Softening in their competitive advantage in category. Company name + best at + why. Having the ability or an attribute that sets you apart from the rest of the competition. It is the dna of our company built in the strategic plan. Is what distinguishes you from the competition in the minds of your consumers where you are in a higher place (ie. google has the competitive advantage of having the best search algorithm on the internet) It is subject to erosion by competition unless there are isolating mechanisms" in place. Barriers that firms can establish to avoid imitation by competitors. Dependent on the existence of market imperfection and the conditions of resource availability. Use value chain framework to analyze sources of cost and.