MKT 300 Lecture Notes - Lecture 1: Netflix, Liquor Control Board Of Ontario, Blue Ocean Strategy
17 Dec 2019
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Purpose of a marketing plan creating value for your customers. External c r e s t model. Supplier: number of supplier"s vs buyers: microsoft is the supplier with lots of buyer. Importance of buyer: loosing customers (losing one could be minor or a major issue depending on size of ur company: switching cost: Importance of product: substitute of product, threat of forward integration: retailer makes more money then manufacturer, so manu enters the industry to boot out the retailer. Airlines purchase in large volumes, have the option to purchase between the two similar products. Buyers: volume of purchase, the products are standard or undifferentiated: buyers for pharmacy are doctors/pharmacy"s/hospitals when drugs are similar buyer has power, switching cost, threat of backward integration. Substitute products: price-performance trade off: landline vs skype of long distance calls, switching cost: banks offer similar products switching is easy for consumer, technology: netflix, creating online streaming vs cable tv.
