Week 9_Competition Mabaya - COMPETITION Ed Mabaya October...

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COMPETITION Ed Mabaya October 28, 2009
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COMPETITION
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Lecture outline Perfect competition defined Competitive strategy defined Competitor analysis Adapt or Die: Competitive strategies for different industry environments Fighting the industry leaders Defense strategies Dirty tricks
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Neoclassical model of perfect competition Assumptions of Neoclassical model of perfect competition : Homogeneous product. Homogeneous prices. Price equality. Perfect information. Costless entry / exit. Many buyers and sellers. Can you think of any market that meets all of the above?
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Competitive Strategy Defined A plan that attempts to define a position for the business that utilizes the competitive advantages that the business has over its competitors. The objective of a competitive strategy is to generate a competitive advantage, increase the loyalty of customers and beat competitors
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What is competition? Behavioral view Focus on rivalry between players Structural view Focus on firm’s own products and services
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Competitor analysis 1. Identify your competitors 2. Determine your competitors’ objectives 3. Identify your competitors’ strategy 4. Assess their strengths and weaknesses 5. Estimate their reaction patterns 6. Select whom to attack and whom to avoid
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Company orientations Customer-centered No Yes Competitor - centered No Product Orientation Customer Orientation Yes Competitor Orientation Market Orientation
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Competitive Strategy Depends on Industry Environment Fragmented Industries Emerging and Growth industries Mature Industries Declining Industries
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Week 9_Competition Mabaya - COMPETITION Ed Mabaya October...

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