GMS 401 Study Guide - Midterm Guide: Andor Technology, Netflix, Westjet

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Fatemeh Firouzi

Document Summary

The ability and performance of an organizaion in the marketplace compared to other organizaions that ofer similar goods or services. Companies must be compeiive to sell their goods and services. Is the reason a company prospers, barely gets by, or fails. Depends on the capabiliies and performance of the company in its market: capabiliies can be developed over ime by focusing on a limited range of goods or services, and/or technology, using teamwork and rewards. Key purchasing criteria: the major elements inluencing a purchase: price, quality, variety and imeliness. Price is the amount a customer must pay for the good or service. Quality refers to characterisics of a good or service determined by its design, material, workmanship, performance, and consistency. Variety refers to the choices of models and opions available to customers. Timeliness refers to the availability of goods or services when they are needed by the customer.