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18 Cards in this Set
- Front
- Back
Competitors |
Are firms operating in the same market, offering similar products, and targeting similar customers. |
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Competitive Rivalry |
Is ongoing set of competitive actions and competitive responses that occur among firms as they maneuver for advantageous market positon. |
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Competitive behavior |
The set of competitive actions and responses a given firm takes to build or defend its competitive advantages and to improve its market position. |
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Multimarket Competition |
Occurs when firms compete against each other in several product or geographic markets. |
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Competitive Dynamics |
Refer to all competitive behaviors - that is the total set of actions and responses taken by all firms competing within a market. |
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Market Commonality |
Is concerned with the number of markets with which the firm and a competitor are jointly involved and the degree of importance of the individual markets to each. |
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Resource Similarity |
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. |
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Competitive Action |
Is a strategic or tactical action the firm takes to build or defend its competitive advantages or improve its market position. |
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Competitive Response |
A strategic or tactical actions the firm takes to counter the effects of a competitor's competitive action. |
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Strategic Action/ Strategic Response |
Is a market-based move that involves a significant commitment of organizational resources and is difficult to implement and reverse. |
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Tactical Action/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. |
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First Mover |
Is a firm that takes an initial competitive action in order to build or defend its competitive advantages or to improve its market position. |
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Second Mover |
Is a firm that responds to the first mover's competitive action, typically through imitation. |
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Late Mover |
Is a firms that responds to a competitive action a significant amount or time after the first mover's action and the second mover's response. |
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Quality |
Exists when the firm's goods or services meet or exceed customers' expectations. |
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Slow-Cycle Markets |
Are markets in which the firm's competitive advantages are shielded from imitation, commonly for long periods of time, and where imitation is costly. |
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Fast-Cycle Markets |
Are markets in which the firm's capabilities that contribute to competitive advantages aren't shielded from imitation and where imitation is often rapid and inexpensive. |
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Standard-Cycle Markets |
Are markets in which the firm's competitive advantages are partially shielded from imitation and imitation is moderately costly. |