MGCR 331 Lecture Notes - Lecture 3: Enterprise Resource Planning, Customer Relationship Management, Switching Barriers

• School: McGill University
• Department: Management Core
• Course: MGCR 331
• Professor: Richard Donovan

Document Summary

Lecture 3: it, value chain and porter"s 5 forces. Involves technology: firms can buy software and tools. Supply chain management, customer relationship management, enterprise resource planning software. Strong brand proxies quality and inspires trust. Viral marketing: leveraging consumers to promote a product or service. Economies of scale: when the cost of an investment can be spread across increasing units of production on in serving a growing customer base. A growing firm may gain bargaining power with its suppliers or buyers. Switching costs: consumers incur an expense to move from one product or service to another. Data can be a strong switching cost for firms leveraging technology. When the value of a product or service increases as its number of users. The path through which products or services get to customers. Firms that receive have some degree of protection from copycats that try to identically mimic their products and methods. Not necessarily a sure path to exploiting an innovation.