MGMT 1030 Lecture Notes - Lecture 2: Psychographic

• School: York University
• Department: Management
• Course: MGMT 1030
• Professor: Olga Kraminer

Document Summary

Study questions for mccraw"s henry ford, alfred sloan, and the three phases of. Population growth both domestically and around the world. Earning and consumer power: american workers are unparallel in their prosperity in this time. Industrial growth: automobile industry relied heavily and stimulated other industries such as steel, petroleum etc. Also allowed for mass production (assembly lines) which lead to a drop in prices. Households were not able to afford to purchase a car. Fragmentation (1890"s -1908): low production, low volume of sales, high prices and high profits. Unification (1908 1920"s): competitors start leaving the market. Ford begins to dominate the market through his mass production and brand recognition. Allowed for lower prices, low margin per unit, but high volume of unit sates. Product lines are made for particular markets and lifestyles. Gm takes advantage of this phase of the marketing. Henry ford is stubborn and refuses to leave the standard production of phase two.