MKT 300 Study Guide - Midterm Guide: Switching Barriers, Brand Equity, Cost Leadership

• School: Ryerson University
• Department: Marketing
• Course: MKT 300
• Professor: Armand Gervais

Document Summary

Sales below expectation: no diff. adv, poor market def. , lack of channel support. Profits below expectation: pdction costs underestimated, low sales vol, selling costs high. 5c"s: customers (decision making process: recognition, info search, eval altern, purchase, post-purchase eval); context (macro: economic conditions, legislation and regus, popu demographics, societal values and lifestyles, tech); competitive strategy; collaborators/complementors; competitors. Buyers: indirect buyers, concentration, growth rate, price-based comp, differentiation. Potential new entrants: economies of scale, capital, gov regulations knowledge, switching costs. Firms with subs: tech, switching costs, cost vs benefit. Monopoly: single supplier controls price, quality, supply. Oligopoly: few suppliers require large inv in equip/tech. Monopolistic competition: many suppliers with variety of product each w/ small market share (hyundai vs toyota) Perfect competition: many suppliers sell essentially same product. Pdct, price, place, promo, people, physical evidence, process. Bases), t (eval seg attractiveness), p (select target market, identify positioning strategy) Market segment: group of customers share similar set of needs/wants within market.