Creating Competitive Advantage Ch 18.docx

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Department
Management and Organizational Studies
Course
Management and Organizational Studies 2320A/B
Professor
Angela White
Semester
Winter

Description
Creating Competitive Advantage 492012 101400 AM Chapter 18Competitor AnalysisCompetitor analysisthe process of identifying assessing and selecting key competitorsCompetitors can include o All firms making the same product of class of products o All firms making products that supply the same service o All firms competing for the same consumer dollarsAssessing CompetitorsCompetitors objectives o Profitability o Market share growth o Cash flow o Technological leadership o Service leadershipCompetitors strategies o Strategic group offers the strongest competitionA group of firms in an industry following the same or similar strategies in a given target marketBenchmarkingthe process of comparing the companys products and processes to those of the competitors or leading firms in other industries to identify best practices and find ways to improve quality or performanceSelecting Competitors to Attract and AvoidCustomer value analysisdetermines the benefits that target customers value and how customers rate the relative value of various competitors offers o Identification of major attributes that customers value and the importance of these values o Assessment of the companys and competitors performance on the valued attributesStrong or weak competitorsClose or distant competitors
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