Term
| What is the focus of business level strategy? |
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Definition
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Term
| What are the two methods for maximizing profit in a single industry? |
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Definition
| Differentiation and Maximizing profit |
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Term
| What is an industry composed of a large number of small and medium sized companies? |
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Definition
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Term
| What is the fundamental reason for fragmented industry? |
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Definition
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Term
| How do fragmented industries offer huge opportunities to businesses to lower costs or differentiate themselves from their fragmented competitors? |
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Definition
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Term
| What are networks of linked merchandising outlets? |
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Definition
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Term
| WHat is the licensing of name, reputation and business skills to a particular area? |
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Definition
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Term
| What is the acquisition of competitors? |
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Definition
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Term
The following are the steps of what?:
Embryonic
Growth
Shakeout
Maturity
Decline |
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Definition
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Term
| What is the period of the industry life cycle in which a lot of companies die out? |
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Definition
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Term
| What is when the companies in the industry produce more than customer demand? |
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Definition
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Term
| Who are customers who enter into the industry during the embryonic stage? |
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Definition
| Innovators & Early Adopters |
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Term
| Who are customers who enter into the industry at the start of the growth stage? |
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Definition
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Term
| Who are customers who enter into the industry at the end of the growth stage? |
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Definition
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Term
| Who are customers who enter into the industry during the mature stage? |
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Definition
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Term
| When does an industry need to develop their competitive advantage during the industry life cycle? |
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Definition
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Term
| What normally leads to companies dying out during the Shakeout stage of the industry life cycle? |
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Definition
| No competitive advantage. |
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Term
| What are companies afraid of during the mature stage of the industry life cycle? |
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Definition
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Term
| What is releasing a variety of products that fill up any existing gaps in the market in order to prevent new entrants? |
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Definition
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Term
| What is using horizontal integration to take on companies that want to leave the industry to survive during the decline phase during the industry life cycle? |
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Definition
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Term
| What is when a firm stops investing and just tries to generate as much profit as they can? |
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Definition
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Term
| What is when you sell everything and leave the industry? |
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Definition
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