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17 Cards in this Set

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competitors
firms operating in the same market, offering similar products, and targeting similar customers
competitive rivalry
the ongoing set of competitive actions and competitive responses that occur among firms as they maneuver for an advantageous market position
competitive behavior
set of competitive actions and competitive responses the firm takes to build or defend its competitive advantages and to improve its market position
multimarket competition
occurs when firms compete against each other in several product or geographic markets
competitive dynamics
refer to all competitive behaviors- that is, the total set of actions and responses taken by all firms competing within a market
resource similarity
the extent to which the firms's tangible and intangible resources are companarable to a competitors's in terms of both type and amount
competitive action
a strategic or tactical action the firm takes to build or defend its competitive advantages or improve its market position
competitive response
a strategic or tactial action the firm takes to counter the effects of a competitor's competitive action
strategic action/response
a market-based move that involves a significant commitment of organizational resources and is difficult to implement and reverse
tactical action/response
a market-based move that is taken to fine-tune a strategy; it involves fewer resources and is relatively easy to implement and reverse
first mover
firm that takes an initial competitive action in order to build or defend its competitive advantages or to improve its market position
second mover
firm that responds to the first mover's competitive action, typically through imitation
late mover
firm that responds to a competitive action a sigificant amount of time after the first mover's action and the second mover's response
quality
exists when the firm's goods or services meet or exceed customers' expectations
slow-cycle markets
those in which the firm's competitive advantages are shielded from imitation commonly for long periods of time and where imitation is costly
fast-cycle markets
markets in which the fimr's capabilities that contribute to competitive advantages aren't shielded from imitation and where imitation is often rapid and inexpensive
standard-cycle markets
markets in which the firm's competitive advantages are moderately shielded from imitation and where imitation is moderately costly