Exam 6: Competitive Rivalry and Competitive Dynamics Emea Edition

A firm is likely to respond to an attack by a competitor in all of the following situations EXCEPT

A competitive action can be one of two types, either ____ or ____.

The drivers of competitive behavior are awareness of the competitor, motivation to take action or respond, and the organization's ability in terms of resources and flexibility.

Quality affects the degree of rivalry in that firms lacking quality are likely to me more aggressive in their competitive actions until the quality problems are corrected.

Firms with ______ market commonality and _____ resource similarity are direct and mutually acknowledged competitors.

Often, successful imitation of the first mover's innovations allows the second mover to avoid the mistakes and major investments of the first mover.

All competitive advantages do not accrue to large-sized firms. A major advantage of smaller firms is that they

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

Define competitors, competitive rivalry, competitive behavior, and competitive dynamics.

____ markets are often described as volatile and innovative.

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

Even if the effects of a competitor's strategic action on the focal firm are significant (e.g., loss of market share), little response is likely from that firm.

The competitive actions and responses in __________ markets are designed to seek large market shares, to gain customer loyalty through brand names, and to carefully control the firm's operations in order to consistently provide the same positive experience for customers.

Without quality, the firm's products

Competitive dynamics refers to the

A strategy's success is determined not only by the firm's initial competitive actions but also by how well it anticipates competitors' responses to them and by how well the firm anticipates and responds to its competitor's initial actions.

Firms are likely to imitate the actions of a competitor that is noted for risky, complex, and unpredictable behavior because this is a way to imitate unobservable core competencies.

Quality is

Research suggests that a firm with greater multimarket contact is less likely to initiate an attack, but more likely to respond aggressively when attacked.

In general, firms are more aware of competitors who have similar resources and who