MRKT 483 Lecture Notes - Lecture 4: Imitation, Blue Ocean Strategy, Product Differentiation
Document Summary
Im lecture 5 the process of developing firm"s international. Firm"s competitive environment: environmental forces affect the organization, it"s suppliers, Competitiveness is defined in terms of value (perceived value) Global strategy: porter"s five forces: generic competitive strategies, cost leadership, product differentiation, niche strategy (serving similar market segments with similar needs across market usually limited in size and ignored by others, the nature of competitive industry structure. Industry competitors: potential entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products and services. Global strategy: how do we gain competitive advantage, create destruction is a disruptive strategy and is strongly resisted by the industry. Implications: first mover advantage vs. first mover disadvantage, the trade off between time and cost over runs, customer-focused approach, supplier-focused approach, competitor-focused approach. How can we use the forces in the model (interaction of forces influencing competition in an. Modifications and interaction of global players influencing competition in an industry in the.
