Strategy Chapter 5
Help!
|
|
||||
|---|---|---|---|---|---|
| business level strategy | a strategy designed for a firm or a division of a firm that competes within a single business
🗑
|
||||
| generic strategies | an analysis of business strategy into basic types based on breadth of target market (industry wide vs narrow) and type of competitive advantage (low cost vs uniqueness)
🗑
|
||||
| overall cost leadership | a firm's generic strategy based on appeal to the industry wide market using a competitive advantage based on low cost
🗑
|
||||
| experience curve | the decline in unit costs of production as cumulative output increases (similar to economies of scope)
🗑
|
||||
| competitive parity | a firms achievement of similarity, or being on par with competitors with respect to low cost, differentiation, or other strategic product characteristics
🗑
|
||||
| differentiation strategy | a firms generic strategy based on creating differences in the firms product or service that is perceived industry wide as unique and valued by customers
🗑
|
||||
| focus strategy | a firms generic strategy based on appeal to a narrow market segment within an industry
🗑
|
||||
| combination strategies | firms integrations of various strategies to provide multiple types of value to customers
🗑
|
||||
| mass custimization | firms ability to manufacture unique products in small quantities at low cost
🗑
|
||||
| profit pool | total profits in an industry at all points on the value chain
🗑
|
||||
| digital technologies | info that is in numerical form, which facilitates its storage, transmission, analysis and manipulation
🗑
|
||||
| disintermediation | the process of bypassing buyer channel intermediaries like wholesalers, distributors, retailers
🗑
|
||||
| industry life cycle | the stages of introduction, growth, maturity, and decline that typically occur over the life cycle of an industry
🗑
|
||||
| introduction stage | first step, 1) new products, 2) poorly defined market segments, 3) unspecified product features, 4) low sales growth, 5) rapid technological change, 6) operating losses, 7) need for financial support
🗑
|
||||
| growth stage | 1) strong increase in sales, 2) growing competition, 3) developing brand recognition, 4) need for financing for value chain activities like market, sales, customer service, R&D
🗑
|
||||
| maturity state | 1) slowing demand growth, 2) saturated markets, 3) direct competition, 4)price competition, 5) strategic emphasis on efficient operations
🗑
|
||||
| reverse positioning | offering products with fewer products and lower prices to extend life cycle (create new product so you shift backwards from maturity to growth stage)
🗑
|
||||
| breakaway positioning | a break in industry tendency to incrementally improve products along specific dimensions by offering products that are still in the industry but perceived by customers as being different
🗑
|
||||
| decline stage | 1) falling sales, 2) increasing price competition, 3) industry consolidation. 4 strategies: exit, harvesting, consolidating, maintaining
🗑
|
||||
| harvesting | a strategy of wringing as much profit as possible out of a business in the short to medium term by reducing costs
🗑
|
||||
| consolidation strategy | M&A within industry to enhance market power and gain valuable assets
🗑
|
||||
| Turnaround strategy | reverses a firm's decline in performance and returns it to growth and profitability
🗑
|
||||
| maintaining strategy | keeping product going without reducing marketing or other investments, hope other competitors will exit first
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
msamaras