7-1-2. Chapter 5. Competitive Rivalry and Dynamics.docx

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Chapter 5. Competitive Rivalry and Dynamics Competitive rivalry and dynamics A model of competitive rivalry Drivers of competitive behavior Market commonality and multi-market competition First-Mover advantages and disadvantages Factors affecting likelihood of attack Factors affecting strategic response Rates of competitive speed Competitive rivalry and dynamics: o Competitive rivalry: the ongoing set of competitive actions and responses occurring between competitors, influences an individual firm’s ability to gain and sustain competitive advantage. o Competitive action: a strategic or tactical action the firm takes to defend its competitive advantages or improve its market position. o Competitive response: a strategic or tactical action the firm takes to counter the effects of a competitor’s competitive action. o Competitive behavior: the set of competitive actions and competitive responses the firm takes to build or defend its competitive advantages and improve its market position. o Competitive dynamics: the total set of actions and responses taken by all firms competing within a market.
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