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L4/5: Market Entry / Competitive Interactions (Porter's Five Forces…
L4/5: Market Entry / Competitive Interactions
Resource-based view (RBV)
VRIO
Value
Value of the internal resources given?
Rarity
Is the capability rare in the industry?
Imitability
Is the resource costly to imitate?
Organisation
Is the company effective structured in order to fully exploit its internal capabilities?
Types of firms resources
Tangible resources
Financial
Physical
Technological
Organisational (e.g. control systems)
Intangible resources
Human
Innovation and creativity
Reputation
Organisational capabilities
Competences to transfer inputs into outputs
First-Mover
Advantages
Brand loyalty
Preemption of scarce assets
Exploiting buyer switching costs (Qwerty keyboard)
Technological leadership
Disadvantages
Free rider effects for competitors
Immature enabling technologies/complements
Undeveloped supply/distribution channels (general market)
Costs for customer education
Learning investments may help to reduce uncertainty
Amazon Go
Growth opportunity
(Still) not fully scaling up
Further investments in R&D
Learning about market uncertainty and technical aspects
Delayed entry
Competitors are coming up (Kroger, Walmart, BingoBox)
Porter's Five Forces
Threat of Rivalry
Threat of Buyers
Threat of Substitutes
Threat of Suppliers
Threat of Entry
AA vs JetBlue