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16 Cards in this Set
- Front
- Back
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Firms operating in the same markets offering similar product and targeting similar customers.
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Competitors
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Ongoing competitive behavior occurring between competitors as they contend with each other for an advantageous market position.
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Competitive Rivalry
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Set of competitive actions and competitive responses the firm takes to build or defend its competitive advantages and to improve its market position.
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Competitive Behavior
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Firms competing against one another in several product or geographic markets
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Multimarket Competitions
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Total set of actions and responses of all firms competing within a market.
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Competitive Dynamics
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Extent to which firm's compete in common markets or submarkets
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Market Commonality
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Extent to which firm's tangible/intangible resources are comparable to competitor's in type and amount
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Resource Similarity
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What are the three drivers of competition
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Awareness
Motivation Ability |
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Extent competitors recognize degree of mutual interdependence that results from market commonality and resource similarity
*Prerequisite to any competitive action |
Competitor Awareness
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Company's incentive to take action, or to respond to a competitor's attack, as it relates to perceived gains and losses
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Competitor Motivation
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Company's resources and capabilities that allow competitive action and flexibility responsiveness
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Competitor Ability
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Market-based moves that signify a significant commitment of organizational resources to pursue a specific strategy
*Difficult to implement and reverse |
Strategic actions and responses
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Market-based moves that involve fewer resources to fine-tune an existing strategy that is already in place
Easy to implement and reverse |
Tactical Strategy
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Likelihood of attack and response is determined by what 3 organizational attributes?
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Posture
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Organization's Strategic Posture
*Superior R&D Skills *Aggressive and willing to experiment with innovation *Tends to take higher, yet reasonable risk *Needs to have liquid resources(slack) that can b quickly allocated to support actions |
First Mover
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STRATEGIC POSTURE
*Responds to first mover, typically through imitation *Is more cautious than first movers *Tends to study customer reactions to product innovations *Tends to larn from the mistakes of first movers, reducing its risks *Takes advantage of time to develop processes and technologies that are more efficient than first movers, reducing its costs *Will not benefit from first mover advantages, lowering potential returns |
Second Mover
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