MKT 300 Study Guide - Midterm Guide: Blue Ocean Strategy, Sales Promotion, Price Level
19 Oct 2015
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4 p"s add value to a firm. Advertising: media types, types of aids. Employees: recruiting, training, motivation, rewards, teamwork, education, training. Other tangibles: reports, business cards, statements, guarantees. The power of suppliers: powerful suppliers capture more of the value for themselves by charging higher prices, limiting quality or services, or shifting costs to industry participants, a supplier group is powerful if: It is more concentrated than the industry it sells to. The supplier group does not depend heavily on the industry for its revenues. Industry participants face switching costs in changing suppliers. There is no substitute for what the supplier group provides. The supplier group can credibly threaten to integrate forward into the industry. There are few buyers, or each one purchases in volumes that are large relative to the size of a single vendor. The industry"s products are standardized or undifferentiated. Buyers face few switching costs in changing vendors.
