Competitive Rivalry And Competitive Dynamics

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Question 1
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Firms operating in the same market, offering similar products and targeting similar customers are competitors.

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Question 2
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Competitive rivalry is the contest to be the first mover in an international market.

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Question 3
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Competitive rivalry is the set of competitive actions and responses that occur among firms as they maneuver for an advantageous market position.

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Question 4
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"Competitive dynamics" indicates that firms and their strategic actions are independent.

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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 competitors initial actions.

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Question 6
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Firms with high market commonality and highly similar resources are direct and mutually acknowledged competitors.

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Question 7
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Market commonality is concerned with the number of markets with which the firm and a competitor are jointly involved and the degree of importance of the individual markets to each.

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Question 8
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Coca Cola and PepsiCo compete across a number of products (e.g., soft drinks, bottled water) and geographic markets (U.S. and foreign markets) indicating that both companies have market commonality.

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Question 9
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Research suggests that a firm with greater multimarket contact is less likely to initiate an attack, but more likely to respond aggressively when attacked.

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Question 10
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Extensive market commonality guarantees intense competition in an industry.

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Question 11
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Two firms, such as Fed Ex and UPS that have similar resources and common markets would be direct and mutually acknowledged competitors.

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Question 12
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Two firms, such as a small local, family-owned Italian restaurant and Olive Garden share few markets and have little similarity in resources, but are nonetheless direct and mutually acknowledged competitors.

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Question 13
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Awareness tends to be greatest when firms have highly similar resources and compete in multiple markets.

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Question 14
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Under the framework of competitive action and response, "ability" refers to an attacking or responding firm's knowledge of the competitive market characteristics.

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Question 15
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A tactical competitive action involves a significant commitment of specific and distinctive organizational resources.

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Question 16
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Boeing's decision to commit the resources required to build the super-efficient 787 midsized jetliner is an example of a tactical action.

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Question 17
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Walmart's aggressive pricing strategy is a strategic action that plays a major role in how it competes.

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Question 18
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First movers can gain a sustained competitive advantage when they reduce their costs through reverse engineering.

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Question 19
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To be a first mover, the firm must have readily available resources to invest in R&D as well as to rapidly and successfully produce and market a stream of innovative products.

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Question 20
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An organization with high profitability, such as Walmart, will be able to develop high organizational slack.

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