Term
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Definition
| an advantage over competitors grained by offering consumers greater value, either through lower prices or by providing more benefits that justify higher prices |
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Term
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Definition
| the process of identifying key competitors; assessing their objectives, strategies, strengths and weaknesses, and reaction patterns; and selecting which competitors to attack or avoid |
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Term
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Definition
| strategies that strongly position the company against competitors that give the company the strongest possible strategic advantage |
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Term
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Definition
| a group of firms in an industry following the same or a similar strategy |
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Term
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Definition
| the process of comparing the company's products and processes to those of competitors or leading firms in other industries to find ways to improve quality and performance |
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Term
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Definition
| analysis conducted to determine what benefits target customers value and how they rate the relative value of various competitors' offers |
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Term
| three basic competitive strategies (pg. 534) |
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Definition
overall cost leadership; differentiation; focus
OR
operational excellence, customer intimacy; product leadership
(more details on the page if you want) |
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Term
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Definition
| the firm in an industry with the largest market share |
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Term
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Definition
| a runner-up firm that is fighting hard to increase its market share in an industry |
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Term
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Definition
| a runner-up firm that wants to hold its share in an industry |
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Term
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Definition
| a firm that serves small segments that the other firms in an industry overlook or ignore |
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Term
| competitor-centered company |
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Definition
| a company whose moves are mainly based on competitors' actions and reactions |
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Term
| customer-centered company |
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Definition
| a company that focuses on customer developments in designing its marketing strategies and on delivering superior value to is target customers |
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Term
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Definition
| a company that pays balanced attention to both customers and competitors in designing its marketing strategies |
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Term
| evolving company orientations (pg. 546 fig. 17.4) |
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Definition
| customer or competitor centered w/ Yes AND No boxes (matrix) |
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