[COMM 200] - Final Exam Guide - Ultimate 23 pages long Study Guide!
29 Nov 2016
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Positioning an organization for competitive advantage (cid:862)ho(cid:449) a(cid:396)e (cid:449)e goi(cid:374)g to (cid:271)e out the people (cid:449)e a(cid:396)e competing (cid:449)ith?? (cid:863) Competition is good, as it brings prices down for consumers, bad for companies (obviously) Like the water bottle competition, companies are fighting for market share, always competing. Each company offers something different and possesses an element of uniqueness, but all are essentially competition of the same customers (ex. To analyze the competitive situation in an industry. Threat of new entrants: other possible new entrants. Threat of substitute products: (cid:449)hat else is the(cid:396)e . Bargaining power of buyers: we have the option to go elsewhere. Competitive rivalry: who else in the market is other than us. A company enjoys a competitive advantage when it can provide customers with a product/service that offers more value than alternate products/services offered by its competitors.
