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<v Tim Richardson>from http://www.witiger.com/senecacollege/MRK106.htm

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<v Tim Richardson>go to How to find a session recorded 	 ....HowToFingASessionRecordedInBlackboardUtra.ppt

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<v Tim Richardson>look at the page here http://www.witiger.com/senecacollege/MRK106.htm

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<v Tim Richardson>http://www.witiger.com/internationalbusiness/economicenvironment.htm

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<v Tim Richardson>6 environments

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<v Tim Richardson>6 environments

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<v Tim Richardson>6 environments discussing economic

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<v Rakesh Mistry>$14.15

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<v Sara Zareh>$14

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<v ramandeep kaur>$14

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<v Nick>Hello everyone 

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<v Rakesh Mistry>i agree

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<v Dengxian Zhao>yes so true

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<v Tim Richardson>go here http://www.witiger.com/senecacollege/MRK106.htm

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<v Tim Richardson>click on http://www.witiger.com/internationalbusiness/culturalconsiderations.htm

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<v Tim Richardson>The cultural environment is in turn influenced by some of the other environments:

    the economic evironment
        is the standard of living comfortable, or stressed
    the technological environment
        how people are able to do things
        do they walk to work, drive
        can they use a phone, access the internet
    the geographic environment
        effects weather
        growing food
        housing and living conditions


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<v Anna Chaluppa>If they find that much TP these days they are lucky as its always sold out 😃

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<v Tim Richardson>FCT

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<v Tim Richardson>Food clothing transportation

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<v Tim Richardson>Cultural   Awareness

                        consumer product
                        industrial product


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<v Tim Richardson>Cultural Awareness

Knowing about the cultural circumstances of your target country can either help you save money, or prevent making mistakes - and no consumer products company can afford to make mistakes in a intensely competitive market.

The degree to which you must be culturally aware in marketing international business products and services depends, to some extent, on whether the product/service is a consumer product or an industrial product.
WTGR

Consumer Products, by virtue of their marketing process 
  o Mass advertising
  o Sales Promotion
  o Personal Selling
tend to require a strong degree of Cultural Awareness since this knowledge relates to the human communication in the selling process.

Industrial Products have less requirements, for cultural awareness, (in some instances), since the negotiation is based on a situation of which there is little debate about any required cultural adaptations. For example, the technical specifications for an industrial ceramic automotive component might be the same in New York as they are in Tokyo or Moscow. What is important, to make this sale, is the price of the component and how it fits the specifications required by the component. 

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<v Tim Richardson>the rest of the page on http://www.witiger.com/internationalbusiness/culturalconsiderations.htm you can read later

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<v Tim Richardson>competition is important

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<v Tim Richardson>go to http://www.witiger.com/ecommerce/competition.htm

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<v Zareen Anan Subah>I am fineThank You

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<v Tim Richardson>If the Competitive Environment is intense, it means you have a lot of companies carrying out strategies such as 

    copying your product and knocking off your designs,
    selling below your price, 
    using some of your advertising themes and concepts
    paying better wages to employees,
    sell a slightly different product that can be substituted for your's,


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<v ramandeep kaur>competitive

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<v Tamara>growth 

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<v ramandeep kaur>because competition is important to survive and earning long term profit in market

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<v Anna Chaluppa>Because your efforts donl't matter if the competition outmarts you and conumers buy somewhere else

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<v Ng, Hillary>give the chance to everyone to enter to the marketplace

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<v Dengxian Zhao>if you can beat all other competitors, you dont need to be affected too much by other factors?

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<v Tim Richardson>. if the Competitive Environment is NOT intense, 

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<v Tim Richardson>hen 

    you don't have to use the latest technology, because your customers will not be drawn to anybody else, and you can therefore save money
    you do not have to worry about paying money for having marketing material translated into different languages for the Social/Cultural Environment
    you can charge a higher price because whether the Economy is good, or bad, does not matter - absence of competition mean that if people want your product, they have to buy it from you and pay whatever price you charge
    you do not have to monitor changes to laws and regulations in such a detailed  way and can probably save money on legal fees
    you do not have to watch for weather or climatic problems cause if they do delay your shipping or sales, it doesn't matter cause customers can't buy from other suppliers anyways


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<v Dengxian Zhao>like Monopoly 

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<v Tim Richardson>Timex versus Rolex

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<v Tim Richardson>timex has lots of competition

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<v Rakesh Mistry>just pricey 

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<v Tim Richardson>Why is it important to know who your competitors are?

You might think it is obvious - "People who sell the same stuff as us"
- but in reality, the question is quite complicated 

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<v Tim Richardson>competition for seneca is also NOT going to college

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<v Tim Richardson>If you do NOT know who your competitors are, then you will not be able to comprehensively gather the required Competitor Intelligence in order to develop appropriate Plans, Strategies and Tactics to allow you to meet your firm's marketing Objectives.

Secondly, if you do not know who your competitors are, you cannot do a complete SWOT analysis which requires you to identify "Threats". 

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<v Tim Richardson>who are competitors

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<v Tim Richardson>competitors are:

    Other organizations offering the same product or service now 
    Other organizations offering similar products or services now 
    Other organizations offering a variation on a product or service, that you cannot
        which could be because 3rd party vendors make accessory items, or "apps" for you, or your competition
        which could be because you did not update your software to follow trends
    Organizations that could offer the same or similar products or services in the future 
    Organizations that could remove the need for a product or service we sell


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<v Tim Richardson>go here http://www.witiger.com/ecommerce/competition.htm

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<v Ng, Hillary>yes

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<v Anna Chaluppa>yes

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<v mohammad mardani>yes

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<v Dengxian Zhao>i guess snapples

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<v Anna Chaluppa>ice tea?

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<v Anna Chaluppa>lemon i assume

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<v Tim Richardson>green tea ice tea

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<v Zareen Anan Subah>Nestea?

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<v Vyvynn Dela Cruz (Yen)>japan

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<v Tim Richardson>so coke bought snapple

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<v Tim Richardson>Other organizations offering a variation on a product or service, that you cannot

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<v Tim Richardson>blalckberry had flash software

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<v Tim Richardson>Organizations that could offer the same or similar products or services in the future 

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<v Tim Richardson>Polaroid vs Nikon

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<v Tim Richardson>Organizations that could offer the same or similar products or services in the future 

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<v Tim Richardson>iPad versus Kindle

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<v Tamara>yes

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<v Atique #2>sometimes

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<v Mira Tran>yes Kindle 
<v Anna Chaluppa>i read but prefer harcopies

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<v Atique #2>i used to read on a kindle
<v Anna Chaluppa>hardcopies*

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<v Vyvynn Dela Cruz (Yen)>i prefer the ipad cause you can use it for more stuff

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<v Tim Richardson>iPad price was expensive

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<v Tim Richardson>Amazon was were pl buying the books online

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<v Tim Richardson>The Amazon Kindle Fire
At $199, it's $300 cheaper than the least expensive iPad 2

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<v Tim Richardson>Starbucks expresso

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<v Tim Richardson>GoPro versus iPhone X and Samsung Galaxy 9

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<v mohammad mardani>me

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<v Dengxian Zhao>one of my friends 

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<v Ng, Hillary>Me

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<v mohammad mardani>sometimes

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<v Ng, Hillary>rarely

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<v Tim Richardson>good marketing lesson to remember GoPro versus iPhone X and Samsung Galaxy 9 - the question of how your competition added new features

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<v Tim Richardson>http://www.witiger.com/senecacollege/MRK106.htm

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<v Tim Richardson>http://www.witiger.com/marketing/typesofcompetition.htm

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<v Tim Richardson>
    MONOPOLY
    OLIGOPOLY
    MONOPOLISTIC COMPETITION
    PURE COMPETITION

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<v Tim Richardson>Walmart is a monopoly? - 

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<v Md Abdul Mutakabir Akif>no

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<v ramandeep kaur>no

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<v Anna Chaluppa>it has various competitors offering similar services / products in the lower price segment

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<v ramandeep kaur>beacause monopoly is the only one in market

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<v Tim Richardson>because there are also large "medium" size competition in other countries

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<v Dengxian Zhao>Walmart does not have total control in this field

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<v Sara Zareh>because Walmart is not the only option for consumers and it's not the only one

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<v Tim Richardson>OLIGOPOLY

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<v ramandeep kaur>oligopoly have the few firms 

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<v Anna Chaluppa>yes

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<v Tim Richardson>do you know this?

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<v Mira Tran>such as Air Canada?

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<v Sara Zareh>like banks

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<v Vyvynn Dela Cruz (Yen)>Like boeing and airbus?
<v Tim Richardson>usually OLIGOPOLY are big companies where "barriers to entry" are huge

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<v Md Abdul Mutakabir Akif>big investments, less competition   

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<v Jaehu Shin>What about Amazon?

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<v ramandeep kaur>oligopoly have the price control 

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<v Dengxian Zhao>only several in one place

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<v Atique #2>is LCBO considered a Monopoly?

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<v ramandeep kaur>steel company

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<v Dengxian Zhao>TTC, VIVA , etc are oligopoly?

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<v Dengxian Zhao>haha

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<v Rakesh Mistry>hydro?

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<v Tim Richardson>billions of dollars to get going - oligopolies

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<v Tim Richardson>if you can do business with one oligopoly company you can do business with all the others

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<v Tim Richardson>Pure Competition
- low barriers to entry, many choices, no business has dominance 	
sdc

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<v ramandeep kaur>agriculture

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<v Rakesh Mistry>krispy kreme 

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<v Tim Richardson> many companies competing and nobody has a significant advantage
examples

    small bars and restaurants
    variety stores, convenience stores
    nail salons, barbers
    small grocery stores
    doughnut shops
    professional services (dentist, doctor, architects)


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<v Tim Richardson>of the 6Es, competition is most important

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<v Tim Richardson>Apple verus Nokia

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<v Tim Richardson>The Matrix

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<v Dengxian Zhao>yes

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<v Rakesh Mistry>yes

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<v Tim Richardson>flip phone

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<v Anna Chaluppa>yes

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<v Tim Richardson>Nokia made a lot of phone with the flip phone

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<v Tim Richardson>Steve Jobs

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<v Tim Richardson>Jobs insisted on trying to make phones for Apple

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<v Tim Richardson>iPhones became very popular

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<v Dengxian Zhao>have not heard of Nokia for a long time

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<v Tim Richardson>have not heard of Nokia for a long time - yes

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<v Tim Richardson>this is why you have to read the news

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<v Anna Chaluppa>question... let's assume you go for drinks with someone you know who works for the competition and they drink too much and give away company secrets. You share that with your company. Would that be considered espionage of the competition or just unethical since it was voluntarily given away information. Or would it be unethical at all if the person wasn't pressured to drink or interrogated?

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<v Anna Chaluppa>Just sometime it comes down to a launch date with a novelty that both are developing. If you know and decide to go public earlier

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<v Anna Chaluppa>Just sometime it comes down to a launch date with a novelty that both are developing. If you know and decide to go public earlierthats a problem

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<v Tim Richardson>stakeholders

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<v Tim Richardson>https://www.youtube.com/watch?v=nBA1ud6QtyE

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<v Tim Richardson>video describing stakeholders

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<v Dengxian Zhao>everyone except investors
<v Tamara>yes

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<v Ghazal Mohammadi #2>   yes

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<v Zareen Anan Subah>yes

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<v Dengxian Zhao>one of my takeaways... 

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<v Md Abdul Mutakabir Akif> i still a little bit confused between monopolistic competition and oligopoly? 

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<v Dengxian Zhao>on CONNECT?

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<v ramandeep kaur>today we learned about the importance of competitive environment  and the four type of  competition.

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<v Vyvynn Dela Cruz (Yen)>my takeaway is how important it is for businesses to keep improving or else their competition will surpass them. and now i am sad for nokia.

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<v Atique #2>^^ haha

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<v Dengxian Zhao>Are cell phone companies monopolistic competition?

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<v Atique #2>poor nokia

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<v Anna Chaluppa>The nokia 3210 was the most indestructible phone to this day though 😃

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<v Sara Zareh>today, my takeaway is about competitors and competition types

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<v Ng, Hillary>monopolistic competition are big companies that do not have total control over the market and oligopoly are small numbers of companies that offer similar products, am I right?

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<v Arsh>The most important and interesting part was to know who your competitors are

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<v Salazar>I heard something about stakeholders in BAM class but now I get what it really means...

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<v Tamara>my takeaway is in regards to competition as well

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<v Vyvynn Dela Cruz (Yen)>out of curiousity. what competition type are MLM's?

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<v Mira Tran>market research about competitor is really important

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<v Anna Chaluppa>pyramid schemes? 😃

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<v Farinaz Sadeghi Shaghaghi>thank you

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<v Dengxian Zhao>Thank you Prof

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<v Arsh>Thank you. Have a nice day
<v mohammad mardani>My takeaway is 6 Environments and Competitive is the important one 

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<v Anna Chaluppa>Thank you

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<v mohammad mardani>thank you

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<v Ng, Hillary>thank you prof

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<v Salazar>Thank you

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<v ramandeep kaur>can you explain all the competition types shortly

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<v Sandra B Landeiro>thank you

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<v Tamara>thank you so much , it was very insightful 

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<v Jerry Xu>thank you sir
<v Sara Zareh>thank you have a nice day

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<v Jaehu Shin>Thank you so much for nice class! have a great day

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<v mohammad mardani>have a nice day

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<v Tim Richardson>Business competitors are:

    Other organizations offering the same product or service now 
    Other organizations offering similar products or services now 
    Other organizations offering a variation on a product or service, that you cannot 
        which could be because 3rd party vendors make accessory items, 
        or "apps" for you, or your competition which could be because you did not update your software to follow trends
    Organizations that could offer the same or similar products or services in the future 
    Organizations that could remove the need for a product or service we sell
<v Mira Tran>thank you so much professor. Your health is not really good but you do really well. 

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<v Mira Tran>Have a good day everyone

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<v ramandeep kaur>thanks prof.

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<v Tim Richardson>Parkinsons

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<v Dengxian Zhao>yes

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<v Tim Richardson>Parkinsons disease

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<v Dengxian Zhao>keep shaking
<v Mira Tran>yes

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<v Farinaz Sadeghi Shaghaghi>I have heard

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<v Vyvynn Dela Cruz (Yen)>it is something about memory ?

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<v Tim Richardson>low level

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<v Mira Tran>Oh really sorry

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<v Sandra B Landeiro>my dad also

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<v Dengxian Zhao>nerves

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<v Tim Richardson>head injuiries - concussion - sports

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<v Tim Richardson>karate in japan

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<v Tim Richardson>UFC

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<v Dengxian Zhao>wow

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<v Dengxian Zhao>so cool

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<v Tim Richardson>61 - 38

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<v Tamara>wow

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<v Mira Tran>it's so cool

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<v Tim Richardson>24-37 worked in business, lived in asia, was in army - also semi-pro fighter

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<v Vyvynn Dela Cruz (Yen)>wow, what a jump. from karate to business school. 

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<v Tamara>Im in martial arts 

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<v Arsh>Impressive 

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<v Tamara>yess))

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<v ramandeep kaur>what we have to do before next class?

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<v Tim Richardson>the reason i tell you this is because your "path" can go many directions
<v Vyvynn Dela Cruz (Yen)>that's so cool. the only weapon i know how to use is a fork

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<v ramandeep kaur>okayyy

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<v Amanpreet kaur #3>i got a question . The videos u said we could watch and comment on , where to find those?

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<v ramandeep kaur>thanks 

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<v Mira Tran>take care professor

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<v Tim Richardson>Aman - will email

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<v ramandeep kaur>which assignments prof?
<v Amanpreet kaur #3>okk

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<v Farinaz Sadeghi Shaghaghi>Please take care. thank you

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<v Tamara>thank you for sharing, have a good day 
<v Mira Tran>thank you so much 

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<v Jerry Xu>Thank you proferssor

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<v Dengxian Zhao>have a good one guys

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<v Sara Zareh>are assignments due anytime soon?

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<v Tim Richardson>leaving now - will leave chat open so you can continue

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<v Zareen Anan Subah>Have a great day! Thanks

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<v Tim Richardson>my bio

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<v Tim Richardson>http://www.witiger.com/resume/Bio.htm

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<v Mira Tran>👍

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<v Sara Zareh>are assignments due anytime soon?

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<v Mira Tran>goodbye everyone and see you tomorrow

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<v Tim Richardson>me 1984 Tokyo http://www.witiger.com/resume/tim-karate-tokyo-1984.jpg

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<v Tim Richardson>I will write assignment info out after lunch

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<v Mira Tran>you look so handsome when you were young professor 😃

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<v ramandeep kaur>okay thanks prof.

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<v Farinaz Sadeghi Shaghaghi>Wow , nice pic.