Competitive Analysis
Terms
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- prisoner's dilemma
- decising what to do based upon the different effects of your competitors' choices
- implicit coalitions
- a pair of firms can attempt to cooperate without involving a third firm
- identifying competitors
- assessing competitors' objectives, strategies, strengths and weaknesses, and reaction pattern
- selecting which competitors to attack or avoid
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-strong or weak
-close or distant
-good or bad - strong or weak
- weak requires fewer resources and less time but firm may gain little, strong could help sharpen abilities
- close or distanct
- close-those that resemble most
- overall cost leadership
- acheive lowest production and distribution costs
- differentiation
- concentrate on creating highly differentiated product line and marketing program so that it comes across as the class leader in the industry
- focus
- company focuses its effort on serving a few segments well rather than going after the whole market
- middle of the roaderes
- try to be good at everything, but end up being good at nothing
- operation excellence
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-provides superior value by leading in price and convenience
-works to reduce costs and create a lean and efficient value-delivery system - customer intimacy
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-company precisely segments its markets and tailors products to match needs of targeted customers
-close relationship and intimate knowledge of customer
-detailed databases - product leadership
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-continuous stream of leading-edge products or services
-new ideas, new products - market leader
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-largest industry share
-want to expand total market share, protect share, or expand market share - market challenger
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-runner-up firm trying to increase market share
-full frontal attack= matching competitors' efforts
-indirect attack= on competitor's weaknesses or on gaps in the competitor's market coverage - market follower
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-wants to hold share without rocking th boat
-follow closely enough to win customers but far enough to avoid retailiation - market nicher
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-serves small segments other firms overlook or ignore
-buy customer, market, quality-price, service, multiple niching