MKTG 341 Lecture Notes - Lecture 3: Fast Fashion, Competitive Intelligence, Core Competency
10 Feb 2017
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Existing knowledge, facilities, patents, etc: apply all this to new markets, new products, etc. Competitive intelligence: know who your competitors are, how they compare to you, etc, use (cid:862)(cid:271)attle (cid:272)ards(cid:863) to (cid:272)o(cid:373)pare ea(cid:272)h area. Just in time delivery systems (jit: produ(cid:272)i(cid:374)g produ(cid:272)ts so that as soo(cid:374) as they"re (cid:374)eeding, they can be sent to where they go. Inventory is too expensive to keep, so you only get the parts and components to assemble the product when you know you need to have them assembled: this creates an effective supply chain which keeps down on costs. Fast fashion: way cheaper than other stores, and its much faster, their supply chains are so fast that they can get their products from the factory to the window fast. Much more interactions with products and companies with cell phones, apps, and the internet. Cooptation: marketers are always looking for the next thing that is going to break main stream.
