Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key


Play button


Play button




Click to flip

18 Cards in this Set

  • Front
  • Back
prisoner's dilemma
decising what to do based upon the different effects of your competitors' choices
implicit coalitions
a pair of firms can attempt to cooperate without involving a third firm
identifying competitors
assessing competitors' objectives, strategies, strengths and weaknesses, and reaction pattern
selecting which competitors to attack or avoid
-strong or weak
-close or distant
-good or bad
strong or weak
weak requires fewer resources and less time but firm may gain little, strong could help sharpen abilities
close or distanct
close-those that resemble most
good or bad
-competitors help icnrease total demand, share costs of market and product development, help legitimize new technologies
-good competitors play by industry rules
-bad competitors try to buy share rather than earn it, take large risks, shake up industry
overall cost leadership
acheive lowest production and distribution costs
concentrate on creating highly differentiated product line and marketing program so that it comes across as the class leader in the industry
company focuses its effort on serving a few segments well rather than going after the whole market
middle of the roaderes
try to be good at everything, but end up being good at nothing
operation excellence
-provides superior value by leading in price and convenience
-works to reduce costs and create a lean and efficient value-delivery system
customer intimacy
-company precisely segments its markets and tailors products to match needs of targeted customers
-close relationship and intimate knowledge of customer
-detailed databases
product leadership
-continuous stream of leading-edge products or services
-new ideas, new products
market leader
-largest industry share
-want to expand total market share, protect share, or expand market share
market challenger
-runner-up firm trying to increase market share
-full frontal attack= matching competitors' efforts
-indirect attack= on competitor's weaknesses or on gaps in the competitor's market coverage
market follower
-wants to hold share without rocking th boat
-follow closely enough to win customers but far enough to avoid retailiation
market nicher
-serves small segments other firms overlook or ignore
-buy customer, market, quality-price, service, multiple niching