week 5

Question 1

what is comptitive analysis

Answer 1

ide key competitors

assessing objective , stratefies , strength and weakness and reaction pattern and selecting which competitors to attack or avoid

Question 2

what are commpetiitve marketing stratgies

Answer 2

strategies that strongly postion company against competitors and give it greatest possible competiive advantage

Question 3

reactions patterns are how copetitors react to new competition what are the two options, i.e they can be

Answer 3

avoidant /agressive

this shows us what to attakc or avoid

Question 4

before starting w competitive analyssi why is it useful to assess overall elvel of market commpetition

Answer 4

competitive strategies and advantage have hgigher significance in higly compemtitive marekts

Question 5

threat of new entrat

Answer 5

how easy/difficult for new entrants to join/operate in the market

Question 6

in threat of new entrants waht are the barrier to ntry 7

Answer 6

econ of sclae

product diffrentioation

capital requirements

switiching costs for customers

access to distriution channels

proprietary informatino and industry kowledge

government restrictions

Question 7

woth econ of scale why is it hard

Answer 7

company w massive suply and distributio networks are harder to replicate - they can keep prices down and standardise quality

Question 8

why is product diff a barier

Answer 8

harder toenter as lotal consuemrs and strong branding

Question 9

why is accesing distribution a bi batrier

Answer 9

harder to sell

Question 11

substitutes

Answer 11

what product are interchanable and or replaceable

Question 12

what are hte types of substitues

Answer 12

perfect/direct
imperfect/indirect

Question 13

what are the types of competition

Answer 13

price

performance

Question 14

whatr are perefct . direct substititues give me an exmaple

Answer 14

pepsi and coke

easilly interchangeblae

Question 15

miperfect substitutes

Answer 15

less direct competiton in mkt

perfom similat function but still signigfxant diff

e.g. contact lenses and lgasses

gaming pc and gamin laptop

Question 16

high bargaing pwoer - 6 points

Answer 16

small number of large volume buyes

high csonuermm involvement (cautiouos decisoin makking and search for alternatives)

high proice sensitivity

low switiching cost for consumers

backwward inegratino

supply greater thna demand

Question 17

low bargaining power - 3 points

Answer 17

no substitutes

demand > supply

high switching costs

Question 18

what does having high braginai gpwoer allow

Answer 18

more influce market

Question 19

if got small numebr of larg vol biyers what can i do

Answer 19

dictate terms

Question 20

why is high conumer invovelment allow hihg buyer power

Answer 20

more expensive , the more ivlved and take time to looka tall optin - so less suceptible to quick amrekting tools

Question 21

give example of low switiching cost

Answer 21

easy to switch , if dont loose beenfits but if been rakcing up loyalty [pinnts the momoent you switch loose benefits - hose are high switching csots

Question 22

what is ackward itnegration

Answer 22

ic an make product myself

so whatever offered shiould be better time wise , csutomer serive wise etc

Question 23

bargian pwoer of supleir - hig

Answer 23

small numer of suppluers serving large pool of industry comp

no subsitties for suppliers product

high csots of swithcing suppliers

industry is not an impomrtant custoemr of the suppluer group

supplieres products are essential to teh industry competitors products

forward integratino

Question 24

nowhy does small number of suppliers serving alrge pool of indutry commpetior shelp give em high power

Answer 24

supplier can picka nd choose customer

Question 25

why does no sub for suppleri product hep

Answer 25

all indsutry competitors want that suppleurs

Question 26

hgigh switiching costs helps how

Answer 26

hard to switch so suppleurs can yuo that to negotioat for their benefit

Question 27

industry not important customer of suppliers group

Answer 27

if supleur serving many inddsutrys and yuo small 0 you not a prioruty as if you drop em theyll b fine 0 loose bargaingf powetr

supplier got more power so comp higher as we competing doe suppliers

Question 28

what is forwas integration

Answer 28

suplperi an o waht you doing and can put you out of mkt as they got rh beeenfit of producing compeoint

so whatever you are offercing can be overcome by me

alwasy increase cop in the market

Question 29

rivalry inficators

Answer 29

compeiton for demand

comp for resources

level of indusry growth

price elasticy/sensitivity and price wars

advertising wars

lack of product differentiation

hgih exit barriers

Question 30

what should you looka t lvel of indutry groeth with

Answer 30

threat of new entrants

Question 31

explain why you should look at lvel of industry growth with threat of new entrants

Answer 31

if in growing matket but threat of ne entrants low then overall rivalty lower casue mor possilities for growth and notlikelt new entrant come in and take mkt share

but if in growing mkt and threat hgi - competiive as we may haev opps but all companies coming in sweeping theses opps , suppleir and peopel

Question 32

price elasticy

Answer 32

cosuerms value cheaper product - price wats - tell tale sign of rival

Question 33

what is a ell tale sign of rivalry

Answer 33

price wats

Question 34

lack of product diferntiation

Answer 34

hig cop as easy to enter market

= lack of customer loyalty
lack of loyalty = shift easily

Question 35

high exot barriers

Answer 35

needing hig invesment w also be mkt w high entry barrier

if operatin loss may not be able to leave as leaving more damagin so jeep oeratin in loss hopin to fix issues

if more eexpensive to elave , keeping unprotiable peopl ein rasies compeiton as they need to survive so do everything they can to survive now