MKT 100 Lecture Notes - Lecture 2: Herfindahl Index, Apple Tv

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Gennadi Gevorgyan

Document Summary

Market penetration strategy: safest, least dangerous method, get in the market. Product development strategy: new products, in the same market (apple came up with apple tv) Market development strategy introduce existing products to new markets (introduce apple iphones to grandmothers) Diversification strategy: new products, new markets, riskiest (companies that have everything. Swat: controllables (internal to the company can be controlled by the company, strength, weaknesses, uncontrollables (external to the company cannot be controlled by the company, opportunities, threats. Share of the market: revenue of the company / market total revenue. Pure competition: large number of firms, undifferentiated products low entry barrier (agriculture) Monopolistic competition: large sellers, differentiated quality and price low entry barriers. Oligopoly few companies: high entry barriers, companies set the price. Pure monopoly: only one company, high entry barriers, vast control of price, xquality (hydro, ttc) Customer excellence companies that are concentrated in their customers (competitive markets) Operational excellence their operational skills are top notch.