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BMGT495 Competitive environment.rev

BMGT495 Competitive environment.rev - THE COMPETITIVE...

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© Copyright 2009 THE COMPETITIVE ENVIRONMENT: COMPETITOR INTELLIGENCE AND RIVALRY Dr. Knight BMGT 495: Business Policies Spring 2011
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© Copyright 2009 Agenda Today’s class Discuss the competitive environment and how it influences the focal organization Who are our competitors? What do we need to know about them? How do we gather that information and use it to make better decisions? What sources of information can we use? What are the ethical implications? Discussion of the CapSim Sensor market and how you can assess your competitors.
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© Copyright 2009 Understanding Your Competitors Competitor analysis and organization response: What drives competitors Shown by organization's future objectives What the competitor is doing and can do Revealed in organization's current strategy What the competitor believes about the industry Shown in organization's assumptions What the competitor’s capabilities are Shown by organization's strengths and weaknesses
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© Copyright 2009 Understanding Your Competitors Competitor intelligence Set of data and information the firm gathers to better understand and anticipate competitors' objectives, strategies, assumptions, and capabilities Follow ethical practices when gathering competitor intelligence Obtain public information Attend trade fairs and shows and collect brochures, view exhibits, listen to their discussions
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© Copyright 2009 Understanding Your Competitors Some practices may be legal, but unethical Unethical tactics can include Blackmail Trespassing Eavesdropping Stealing drawings, samples or documents
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© Copyright 2009 You and Your Competitors Competitors Firms operating in the same market, offering similar products and targeting similar customers Competitive Rivalry Ongoing set of competitive actions and competitive responses occurring between competitors as they contend with each other for an advantageous market position Competitive Behavior Set of competitive actions and competitive responses the firm takes to build or defend its competitive advantages and to improve its market position
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© Copyright 2009 Understanding Competition Multimarket Competition Firms competing against one another in several product or geographic markets Competitive Dynamics Total set of actions and responses of all firms competing within a market
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