Exam 6: Competitive Rivalry and Competitive Dynamics

Ability refers to an attacking or responding firm's knowledge of the competitive market characteristics.

Both ____ and ____ affect the awareness and motivation of a firm to undertake actions and responses.

As compared to strategic actions,tactical actions usually have a:

A second mover is a (an):

Multimarket competition refers to situations in which firms compete against each other in several or many product or geographic markets.

Which of the following is an example of an organization considered to be in a standard-cycle market?

First movers can gain a sustained competitive advantage when they reduce their costs through reverse engineering.

A competitive response is a (an):

Choosing not to respond to the competitive actions of large companies with great resources is a viable long-term option for small companies.

On the whole there are more competitive responses to:

Firms with fewer resources are less likely to respond to tactical actions than to strategic actions in order to preserve resources for the most important competitive battles.

Define slow-cycle,fast-cycle,and standard cycle markets.

According to the discussion in the textbook,it is unlikely that firms that are typically late movers have much organizational slack.

What factors contribute to the likelihood of a response to a competitive action?

Late movers are those firms:

Market commonality increases the likelihood of competitive interaction in an industry.

Product quality is a universal theme and is a necessary,but not a sufficient condition for competitive success.

Competitors are more likely to respond to competitive actions that are taken by ____.

High quality increases costs which damages profitability.

In order to compete effectively,standard-cycle firms need ____.