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Competition & Customer Orientation (Identifying Competitors (Strategic…
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What company is good at
Technology, image, finance, service, quality, distribution, management skills
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Cocacola: Good at global distribution
P&G: Good at Product Development
Collaborated with each other to stay at the top of the game
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Barriers to Entry: High start up cost, patents, loyalty programmes
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Facebook implemented a programme and collected personal data without consent and sold it for a profit. People got together to sue facebook.
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If suppliers can raise their price easily, you will be at the mercy of them
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Canon & Xerox had different cost structure
Xerox leased products to companies (High maintenance costs)
Canon sold their products to companies (Low Cost structure)
Canon did better because of a lower cost structure and bought over Xerox
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Same product category EG: Coke v Pepsi, Mcafe v Starbucks
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Different product category, but alternative purchase choice EG: Eye Glasses v Contact, Bicycles v Inline Skates
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Product that satisfy same customer's need as the firm's product
EG: Taking a vacation to Europe v buying a motorcycle (Enjoyment)
Consumers have limited resources hence companies need to vie for their attention.
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Market Share: Portion of share in market
Mind Share: How salient(noticeable/important) is your brand to the market
Heart Share:Which brand people prefer if given a choice?
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Companies used to think that customers used ecommerce because they value price.
However, people value trust & convinience.
Hence, companies need to constantly review and know the right assumptions
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You decide to do something big but competitors don't care
Reasons: Overconfident, did not know of you, busy harvesting their business
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If you increase advertising, competitors might not respond
If you cut prices, competitors responds instantly
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Low cost strategy might send the wrong message to consumers
Being overvested in production might make it hard for the company to respond to changes
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New users, new uses or more usage
EG: Michelin star guide from tyre making company
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PPCCFM
Position Defense
Flank Defense
Preemptive Defense
Counter Defense
Mobile Defense
Contraction Defense
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Attack 4Ps directly
EG: When japan went into luxury market, Lexus was able to dominate car market
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Attack weaker side of competitor
EG: Xerox only focused on large competitors. Canon came in to take the small ones
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