LESSON 5 (COMPETITIVE ADVANTAGE)

Question 1

refers to certain factors that allow a company to produce products and services cheaper and with higher quality than its rivalling companies

Answer 1

Competitive Advantage

Question 2

this type of competitor offers the same products as your business

Answer 2

Direct Competitors

Question 2

this type of competitor is inclined with your category but offers different product to solve the same problem

Answer 2

Indirect Competitor

Question 3

This type of competitor offers alternatives products to solve the same problem

Answer 3

Replacement Competitors

Question 4

it is about making informed choices to outperform rivals

Answer 4

Competitive Strategy

Question 5

a business strategy that tries to achieve both low cost and differentiation at the same time but fails to excel

Answer 5

Middle of the roaders Losing Strategy

Question 6

it suggest that companies can gain leadership positions by delivering superior value to their customer in operational excellence, product leadership and customer intimacy

Answer 6

Treacy & Wiersema’s Competitive Strategies

Question 7

Competitive position where it is the firm with the largest market share

Answer 7

Market Leader

Question 8

Competitive position where they are firms fighting to increase market share

Answer 8

Market Challenger

Question 9

Competitive position where they are firms that want to hold onto their market share

Answer 9

Market Follower

Question 10

Competitive position where firms that serve small market segments are not being overlooked by other firms

Answer 10

Market Nicher

Question 11

a company primarily focused on beating its rivals

Answer 11

Competitor-Centered Company

Question 12

a company primarily focused on meeting the needs and wants of its customers

Answer 12

Customer-Centered Company

Question 13

a company who balances both customer and competitor orientations.

Answer 13

Market-Centered Company

Question 14

its objective is to establish a national competition policy to prevent anti-competitive practices such as monopolies

Answer 14

Philippine Competition Act

Question 15

a prohibition that includes agreements between competitors that substantially prevent or restrict competition

Answer 15

Anti-Competitive Agreement or Conduct (ACA/C)

Question 16

a prohibition where in the conduct of their business, dominant companies may disproportionately severe effect on the market

Answer 16

Abuse of Dominant Position (ADP)

Question 17

a prohibition where it refers to transactions that substantially lessen or prevent competition in the relevant market

Answer 17

Anti-Competitive Mergers & Acquisition (ACMA)

Question 18

It also known as the Philippine Competition Act or Policy

Answer 18

Republic Act 10667 / RA 10667

Question 19

a competitor who plays by the rules in the industry

Answer 19

Good Competitor

Question 20

a competitor who try to buy shares rather than earn, take large risk, and play by their own rules.

Answer 20

Bad Competitor

Question 21

a strategy to make the competition irrelevant

Answer 21

Blue-Ocean Strategy

Question 22

a strategy to beat the competition head on.

Answer 22

Red-Ocean Strategy

Question 23

a company works hard to achieve the lowest production and distribution cost

Answer 23

Overall Cost Leadership

Question 24

a company focuses its effort on serving a few market segments rather than going after the whole market

Answer 24

Focus Strategy

Question 25

a company aims to become the lowest cost producer in a specific market

Answer 25

Cost Focus

Question 26

a company aims to differentiate its products from competitors

Answer 26

Differentiation focus

Question 27

under the Treacy & Wiersema competitive strategies: The company provides superior value by leading in price and convenience

Answer 27

Operational Excellence

Question 28

under the Treacy & Wiersema competitive strategies: The company provides superior value by offering continuous stream of leading-edge products

Answer 28

Product Leadership

Question 29

under the Treacy & Wiersema competitive strategies: The company provides superior value by precisely segmenting its markets and tailoring its products exactly to its targeted customers

Answer 29

Customer Intimacy

Question 30

is a marketing strategy that refers to how a marketing team can differentiate a company from its competitors

Answer 30

Competitive Positioning

Question 31

Market Challenger Strategies: by challenging the market leader and other competitors in an aggressive bid for more market share

Answer 31

Full Frontal Attack

Question 32

Market Challenger Strategies: by carving out toeholds using tactics that established leaders have trouble responding to

Answer 32

Indirect Attack

Question 34

A strategic framework for analyzing the competitive environment of an industry

Answer 34

Porter's 5 Forces Model

Question 35

This force refers to potential for new competitors to enter the market and disrupt current competitive landscape

Answer 35

Threat of new entrants

Question 36

Force that refers to the power that suppliers have over the industry and their ability to increase the price or reduce the quality of goods

Answer 36

Bargaining power of suppliers

Question 37

Force refers to the potential for substitutes to take market share away from the industry's products

Answer 37

Threat of substitutes

Question 38

Force refers to the power that buyers have over the industry and their ability to negotiate lower prices

Answer 38

Bargaining power of buyers

Question 39

Force refers to the intensity of competition among existing firms

Answer 39

Rivalry among existing competitors

Question 40

4 Ps of Competitor's Marketing

Answer 40

Place Product Price Promotion

Question 41

S.W.O.T

Answer 41

Strength Weakness Opportunities Threats