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12 Cards in this Set

  • Front
  • Back
competitive strategy
The objective is to knock thesocks off rival companies by doing a better job of providing a product offering that best satisfies buyers needs and preferences.
competitive advantage
Doing a significantly better job than rivals of providing buyers with the best overall value.
strategic alliances
Collaborative arrangements where two or more companies join forces to acheive mutually beneficial strategic outcomes.
mergers
Pooling of equals, with the newly created company often takng on a new name.
acquisitions
A combination in which one company, the acquirer, purchases and absorbs the operations of another, the acquired.
vertical integration
Extends a firm's competitive and operating scope within the same industry. It involves expanding the firm's range of activities backward into sources of supply and/or forward toward end users.
outsourcing
Involves farming out certain value chain activities to outside vendors.
5 distinct approaches for competitive strategy
1/5
low-cost provider strategy- striving to achieve lower overall costs than rivals and appealing to a broad spectrum of customers, usually underpricing rivals.
5 distinct approaches for competitive strategy
2/5
broad differentation strategy-
seeking to differentiate the company's product offering from rivals' in ways that will appeal to a broad spectrum of buyers.
5 distinct approaches for competitive strategy
3/5
best-cost provider strategy-
giving customers more value for the money by incorporating good-to-excellent product attributes at a lower cost than rivals; the target is to have the lowest (best) costs and prices comprared to rivals offering products with simiar attributes.
5 distinct approaches for competitive strategy
4/5
focused (or market niche) strategy based on low cost-
concentrating on a narrow buyer segment and outcompeting rivals by having lower costs than rivals and thus being able to serve niche members at a lower prce.
5 distinct approaches for competitive strategy
5/5
focused (or market niche) strategy based on differentation-
concentrating on a narrow buyer segment and outcompeting rivals by offering niche members customized attributes that meet their tastes and requirements better than rivals' products.