MKTG 303 Study Guide - Midterm Guide: Kfc, Eggo, Competitive Advantage
14 Dec 2020
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Understand what is product category, product line, product breadth, product depth, product assortment. If products are too similar, sales of one brand may cannibalize, or take away sales from the other brand, with no net sales, profit, or market share increase. Increase/decrease breadth to capture new or evolving opportunities. Increase/decrease depth to changing consumer preferences and for product differentiation. Understand sustainable competitive advantage: sustainable competitive advantage: something the firm can persistently do better than its competitors; an advantage over the competition that is not easily copied and can be maintained over a long period of time. Explain why marketers must consider their macroenvironment when they make decisions. It is transmitted by words, literature, and institutions and is passed down from generation to generation and learned over time: country culture: similar to culture in general, but at a country level. 4: gen z: generational cohort of people born between 2001 and 2014.
