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17 Cards in this Set
- Front
- Back
competitors
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firms operating in the same market, offering similar products, and targeting similar customers
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competitive rivalry
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the ongoing set of competitive actions and competitive responses that occur among firms as they maneuver for an advantageous market position
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competitive behavior
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set of competitive actions and competitive responses the firm takes to build or defend its competitive advantages and to improve its market position
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multimarket competition
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occurs when firms compete against each other in several product or geographic markets
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competitive dynamics
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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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resource similarity
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the extent to which the firms's tangible and intangible resources are companarable to a competitors's in terms of both type and amount
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competitive action
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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
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a strategic or tactial action the firm takes to counter the effects of a competitor's competitive action
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strategic action/response
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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
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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
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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
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firm that responds to the first mover's competitive action, typically through imitation
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late mover
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firm that responds to a competitive action a sigificant amount of time after the first mover's action and the second mover's response
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quality
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exists when the firm's goods or services meet or exceed customers' expectations
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slow-cycle markets
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those 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
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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
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standard-cycle markets
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markets in which the firm's competitive advantages are moderately shielded from imitation and where imitation is moderately costly
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