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48 Cards in this Set
- Front
- Back
3 key issues of competition
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1. structure: direct vs. indirect; current vs. potential
2. dynamics: how it evolves and changes 3. firm itself: depts. within firm compete with eachother |
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levels of data
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corporate
business unit market market segment |
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secondary data
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published reports, filings, internet, etc.
firm draws conclusions |
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primary data
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customer interviews, surveys, etc.
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internal data processes
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competitive intelligence dept.
competitive intelligence system -- culture shadow perspective |
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framework to describe competition
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organization
mindset strengths and weaknesses current strategy and performance firm environment |
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emergence scenarios
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start with current strategies and deduce what may emerge
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unconstrained scenerios
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based on open-ened what if situations
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constrained scenarios
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what-if based on what competitor would do under certain scenarios
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pre-emptive signaling
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sent so competitors will make decisions favorable for the firm
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warning signals
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if comp. takes steps beyond a certain threshold, firm will disadvantage them
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tit for tat signals
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if company makes certain decision, comp. will match it, but not go beyond it
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stong compliment front office
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companies work together in front of clients to meet their needs
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strong compliment back office
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companies that work together behind the scenes non customer related activities
usually helps improve effiency |
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mkt. segmentation compromise
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the more segmented the market, the more expensive
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two approaches to developing mkt. segments
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customer needs 1st
candidate descriptor 1st |
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good segments
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stable, approp. size, accessable
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large vs. small amt of segments
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large: needs are similar and there is a high amt. of satisfaction, but low economies of scale and costs are high
small: satisfaction is low, but its less complex and cheaper |
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multifactor matrix approach
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strat. position, helps firms decide which mkts. to address
based on mkt. attractveness and business strength (H, M, L) |
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levels of branding
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group of products
product line individual product |
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brand identity
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way that firm wants brand to be seen
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brand image
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what firm is actually seen as
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brand personality
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human or emotional characterisitcs assoc. with brand
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effective brand assoc.
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strong, favorable, unique
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customer vs. firm brand equity
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customer: value customer recieves
firm: value firm receives |
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pre-purchase equity
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what consumers believe before the purchase
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post-purchase equity
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enhances customers experience
econ., psych., functional value |
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dollarmetric method
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assess monetary value of CBE; how much extra is paid for branded vs. unbranded product
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market value method
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open mkt. is best indicator of value
FBE = mkt. value - book value of generic |
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building strong brand
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brand identity -- brand awareness -- brand assoc. and loyalty -- brand loyalty -- brand broadening
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brand health
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balance sheet
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brand acrhitecture
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oganizing structure for multiple brads
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multi-branding
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multiple brand names for various products
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umbrella branding
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monolithic brand name that covers many product lines
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brand broadening
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address a new brand opportunity
- link extension: adding new products to brand - flanker brand: adding similar brand -- often cheaper defender brand |
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brand mitigation
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for acquisitions, retaining brand equity by transferring it to another brand
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co-branding
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transferring positive attributes about brand through strategic alliances
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endorsed brand
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brands assoc. themselves with other brands
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dis vs. reintermediation
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dis: direct to consumer
re: intermediary placed b/t consumer and suppliers |
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form of direct dist.
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fact to face, telemarketing, direct marketing, internet, outlets, spec. dist.
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direct vs. indirect
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direct: better for smaller client base; custom producers, large qty. sales, complex purchase decisions; speed not crucial
indirect: large base, stockable items, large qty. sold in small amts., sold in small amts. simple purchasing base |
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value added rellers
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building software on existing platforms and modify it for niche mkts.
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systems integrators
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add value by installing and serving software/hardware from different vendors an making them work together
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slotting payments
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direct payments to secure shelf space
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elastic
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volume sold is very sensitive to price
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inelastic
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gas, electric, etc. -- need and volume does not change
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fully loaded costs
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include inc. costs related to new product
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floor price
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marginal costs
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