BUS 478 Study Guide - Midterm Guide: Competitor Analysis

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 478
• Professor: Rui Jorge Basto da Silva

Document Summary

These notes are made from the testbook and test. Competitors - firms operating in the same market, offering similar products, and targeting similar customers. Competitive rivalry is the ongoing set of competitive actions and competitive responses that occur among firms as they maneuver for an advantageous market position. Competitive behavior is the set of competitive actions and responses a firm takes to build or defend its competitive advantages and to improve its market position. Multimarket competition occurs when firms compete against each other in several product or geographic markets. Competitive dynamics refer to all competitive behaviors that is, the total set of actions and responses taken by all firms competing within a market. Competitor analysis is the first step the firm takes to be able to predict extend and nature of its rivalry with each competitor. 2 dimension of competition determine this: firms with high market commonality, firms with highly resource similarity, make firms direct and mutually acknowledge competitors.