3rd Feb My learning of the day

I decide to start to write some of my learning points from every day. I will try to do it every day, but I don't promise anything.

03 Feb 2009: Always be prepared, you never know what in the next moment professor can ask you J

Marketing research is very long and expensive process. Even if it is not mentioned time and financial constraints, they should be always be taken into consideration. Also quantitative and then qualitative market research more often is preferable.

Through process you can create value.

Main objective of companies is … not profit, but to survive.

Even huge and reach companies should always care about their margins and not go for market share by decreasing its margins. Today you are reach, but after 1 year you can be gone.

There are 2 main business strategies: Cost Leadership and Differentiation

In the business there is paradox. Why on the beach bars generally are based close to each other? Or why in shopping molls similar kind of shops are located next to each other? If bars and shops would be located separately, they would have their own small monopoly for that territory (no competition) and would have fewer risks. But the reality is different because by putting bars or shops next to each other, you have CHANCE to get more customers, who is coming to this territory to get what they came for. Paradox, but reasonable.