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MGMT 466 > Chapter 5: Competitive Rivalry & Dynamics > Flashcards

Chapter 5: Competitive Rivalry & Dynamics Flashcards

1
Q

rivalry suggests

A
  1. firms = mutually interdependent
  2. affected by each other’s actions/responses
  3. marketplace success = function of individ strats. & consequences of their use
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2
Q

rivalry can have a major effect on

A
  1. financial performance (profitability)
  2. market position
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3
Q

competitor analysis: 2 dimensions of competition determine the extent to which firms are competitors

A
  1. market commonality

=>multimarket = decr comp; decr P(inititate)

  1. resource similarity => sw, strat, op.
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4
Q

comp rivalry: likelihood of attack

A
  1. first mover benefits
  2. org size
  3. quality
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5
Q

comp rivalry: likelihood of attack: first mover benefits:

3 risks

A
  1. difficult to accurately estimate returns from product innovations
  2. cost to develop = substantial => reducing available slack
  3. lack of product acceptance over course of innovations => less willingness in the future to accept risks of being a first mover
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6
Q

comp rivalry: likelihood of attack: first mover benefits: 2nd mover

A

-

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7
Q

comp rivalry: likelihood of attack: first mover benefits: late mover

A

-

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8
Q

comp rivalry: likelihood of attack: org size

A

large: likely to initiate more (strategic) actions during given period
small: more likely to launch actions & do so more quickly => speed & surprise => variety

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9
Q

comp rivalry: likelihood of attack: quality:

8 product quality dimensions

A
  1. performance
  2. features
  3. flexibility
  4. durability
  5. conformance
  6. serviceability
  7. aesthetics
  8. perceived quality
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10
Q

8 product quality dimensions: performance

A

operating characteristics

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11
Q

8 product quality dimensions: features

A

important special characteristics

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12
Q

8 product quality dimensions: flexibility

A

meeting operating specifications over a period of time

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13
Q

8 product quality dimensions: durability

A

amount of use before performance deteriorates

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14
Q

8 product quality dimensions: conformance

A

match with pre-estabilished standards

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15
Q

8 product quality dimensions: serviceability

A

ease and speed of repair

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16
Q

8 product quality dimensions: aesthetics

A

how a product looks and feels

17
Q

8 product quality dimensions: perceived quality

A

subjective assessment of characteristics (product image)

18
Q

comp rivalry: first mover benefits: quality: 6 service quality dimensions

A
  1. timeliness
  2. courtesy
  3. consistency
  4. convenience
  5. completeness
  6. accuracy
19
Q

6 service quality dimensions: timeliness

A

performed in the promised period of time

20
Q

6 service quality dimensions: courtesy

A

performed cheerfully

21
Q

6 service quality dimensions: consistency

A

giving all customers similar experiences each time

22
Q

6 service quality dimensions: convenience

A

accessibility to customers

23
Q

6 service quality dimensions: completeness

A

fully serviced, as required

24
Q

6 service quality dimensions: accuracy

A

performed correctly each time

25
Q

comp rivalry: likelihood of response: evaluate 3 factors

A
  1. type of action
  2. actor’s reputation
  3. market dependence
26
Q

competitive dynamics: varying rates of competitive speed in markets

A
  1. slow-cycle
  2. fast-cycle
  3. standard-cycle
27
Q

competitive dynamics: slow-cycle

A
  • comp adv. = sustainable over longer periods of time (diff to understand)
  • capability = unique & proprietary
  • actions/responses: protect, maintain, extend
  • ex: disney, drugs (pfizer & lipitor), copyrights, patents
28
Q

competitive dynamics: fast-cycle

A
  • comp adv. not sustainable
  • tech based & much comp.
  • complex decisions: speed & comprehensive
  • reverse engineer & % of tech diffusion => rapid imitation
  • volatile => innovation = engine of growth
  • firm avoids loyalty
  • cannibalize own/upgrade
  • stretegic alliances
29
Q

competitive dynamics: standard-cycle

A
  • seek large market share & loyalty (brand) & controlled ops.
  • economies of scale
  • intense comp bc of:
    1) lg volumes
    2) mass mkt size
    3) scale economies
  • CCs = less specialized
  • imitation comes less quickly and is more expensive
  • innovation = incremental

MGMT 466 (12 decks)

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