Strategic Mgmt 449 Ch. 5
Card Set Information
Strategic Mgmt 449 Ch. 5
Competitive Rivalry and Competitive Dynamics
Firms operating in the SAME market, offering SIMILAR products, & targeting SIMILAR customer
is the ongoing set of competitive actions & competitive responses that occur among firms as they maneuver for an advantageous market position
is the set of competitive actions & competitive responses the firm takes to build or defend its competitive advantages & to improve its market position
Occurs when firms compete against each other in several product or geographic markets
Refer to all competitive behaviors-that is, the total set of
firms competing within a market
is concerned w/ the number of markets w/ which the firm & a competitor are jointly involved and the degree of importance of the individual markets to each.
is the extent to which the firm's tangible and intangible resources are comparable to a competitor's in terms of both type and amount.
is a strategic or tactical action the firm takes to build or defend its competitive advantages or improve its market position
is a strategic or tactical action the firm takes to counter the effects of a competitor's competitive action
Strategic Action or Strategic Response
Is a market-based move that involves a significant commitment of organizational resources and is difficult to implement and reverse
Tactical Action or a Tactical Response
Is a market-based move that is taken to fine-tune a strategy; it involves fewer resources and is relatively easy to implement and reverse.
is a firm that takes an initial competitive action in order to build or defend its competitive advantages or to improve its market position
Is a firm that responds to the first mover's competitive action, typically through imitation
is a firm that responds to a competitive action a significant amount of time after the first mover's action and the second mover's response.
Exists when the firm's goods or services meet or exceed customers' expectations.
From a strategic perspective, is the outcome of how a firm completes primary and support activities.
denotes the extent to which a firm's revenues or profits are derived from a particular market.
are those in which the firm's competitive advantages are shielded from imitation commonly for long periods of time and where imitation is costly (slow imitation)
are markets in which the firm's capabilities that contribute to competitive advantages aren't shielded from imitation and where
is often rapid and inexpensive.
are markets in which the firm's competitive advantages are moderately shielded from imitation and where imitation is moderately costly.