SEVI 3013 UPDATED COMPLETE
QUESTIONS AND ANSWERS PROFESSIONAL
REVIEW SHEET
●● Tactical action
Answer: a market-based move that is taken to fine-tune a strategy; it
involves fewer resources and is relatively easy to implement and reverse
●● Competitive Action
Answer: a strategic or tactical action the firm takes to build or defend its
competitive advantages or improve its market position
●● Competitive Response
Answer: a strategic or tactical action the firm takes to counter the effects
of a competitor's competitive action
●● Competitors
Answer: firms operating in the same market, offering similar products,
and targeting similar customers
●● Competitive rivalry
,Answer: the ongoing set of competitive actions and competitive
responses that occur among firms as they maneuver for an advantageous
market position
●● The outcomes of competitive rivalry influence the firms:
Answer: § Ability to develop and then sustain its competitive advantages
§ Level (average, below average, or above average) of financial return.
●● Competitive Behavior
Answer: the set of competitive actions and competitive responses the
firm takes to build or defend its competitive advantages and to improve
its market position
●● Multimarket Competition
Answer: occurs when firms compete against each other in several
product or geographic markets
●● Competitive dynamics
Answer: The total set of actions and responses taken by all firms
competing within a market.
●● competitor analysis
Answer: how companies gather and interpret information about their
competitors- to understand
, ●● Competitor analysis studies:
Answer: Future objectives, current strategies, assumptions, capabilities
●● To complete a competitor analysis, firms study:
Answer: market commonality and resource similarity
●● market commonality and resource similarity shape the firms:
Answer: Awareness, motivation, ability
●● Awareness
Answer: refers to the extent to which competitors recognize the degree
of their mutual interdependence
●● Motivation
Answer: concerns the firms incentive to take action or to respond to a
competitors attack
●● Ability
Answer: refers to the quality of resources available to the firm to attack
and respond
●● Resource Dissimilarity
QUESTIONS AND ANSWERS PROFESSIONAL
REVIEW SHEET
●● Tactical action
Answer: a market-based move that is taken to fine-tune a strategy; it
involves fewer resources and is relatively easy to implement and reverse
●● Competitive Action
Answer: a strategic or tactical action the firm takes to build or defend its
competitive advantages or improve its market position
●● Competitive Response
Answer: a strategic or tactical action the firm takes to counter the effects
of a competitor's competitive action
●● Competitors
Answer: firms operating in the same market, offering similar products,
and targeting similar customers
●● Competitive rivalry
,Answer: the ongoing set of competitive actions and competitive
responses that occur among firms as they maneuver for an advantageous
market position
●● The outcomes of competitive rivalry influence the firms:
Answer: § Ability to develop and then sustain its competitive advantages
§ Level (average, below average, or above average) of financial return.
●● Competitive Behavior
Answer: the set of competitive actions and competitive responses the
firm takes to build or defend its competitive advantages and to improve
its market position
●● Multimarket Competition
Answer: occurs when firms compete against each other in several
product or geographic markets
●● Competitive dynamics
Answer: The total set of actions and responses taken by all firms
competing within a market.
●● competitor analysis
Answer: how companies gather and interpret information about their
competitors- to understand
, ●● Competitor analysis studies:
Answer: Future objectives, current strategies, assumptions, capabilities
●● To complete a competitor analysis, firms study:
Answer: market commonality and resource similarity
●● market commonality and resource similarity shape the firms:
Answer: Awareness, motivation, ability
●● Awareness
Answer: refers to the extent to which competitors recognize the degree
of their mutual interdependence
●● Motivation
Answer: concerns the firms incentive to take action or to respond to a
competitors attack
●● Ability
Answer: refers to the quality of resources available to the firm to attack
and respond
●● Resource Dissimilarity
