Contemporary Marketing
18th Edition
ISBN: 9780357033777
Author: Louis E. Boone, David L. Kurtz
Publisher: Cengage Learning
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Chapter 2.3, Problem 1LO
Summary Introduction
To discuss: The competitive forces of Person P five forces model
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What are the five generic competitive strategies? Briefly describe each one and identify the type of competitive advantage that each strategy is aimed at achieving.
1) Explain why competitive advantages in technology are temporary and describe the four methods of identifying cempetitive advantages as well as provide a use case for each method.
2) Define critical success factors (CSFs) and key performance indicator (KPIs) and explain how the administration at a college might use a CSF, such as improving graduation rates, to create a list of KPIs necessary to achieve this goal.
3)Explain why competitive advantages in technology are temporary and describe the four methods of identifying competitive advantages as well as provide a use case for each method.
Discuss extensively Micheal porter's diamond model for competitiveness
Chapter 2 Solutions
Contemporary Marketing
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- What do you perceive as Segway’s competitive advantage? To what extent is this competitive advantage sustainable over time?arrow_forwardWhile terms such as “hyper competitive” or “fast moving” have been around for a number of years, the speed of change—at the customer and competitor level—is accelerating at unprecedented levels. At the customer level, this is reflected in “location-based” marketing based on mobile apps, real-time tracking of customer behavior, and continual advancement of new, nimbler competition. For many industries, at the heart of this change are smart products, smart applications and interconnected devices as well as an increasing willingness of firms to develop ecosystems of partners rather than go it alone. In many industries, the new and nimbler competition may be from firms based in second-world or even emerging economies. What are the implications of dealing with such non-traditional competitors? Conversely, the biggest growth opportunities for many firms are in emerging marketplaces, with unfamiliar customer needs, channel structures and even institutional set-ups and political systems. What…arrow_forward4-38. What is ToMS’s target market? How might this market change in the future?4-39. What revenue streams does ToMS have that support how the firm competes? How sustainable are these revenue streams?4-40. What key assets does ToMS possess and how sustainable are those assets?4-41. What are the major challenges ToMS faces as the firm continues implementing its business model as a means of reaching its mission? Which of these challenges is the most serious and whyarrow_forward
- Analyze the industry competition conditions faced by Pataka Tea Co., Ltd. Identify the key external factors that affected Pataka Tea Co., Ltd strategic decision. based on porters’ modelarrow_forwardDiscuss the competitive forces in the business environment using Porter's Five Forces framework, examining the influence of factors such as industry rivalry, supplier power, buyer power, threat of new entrants, and threat of substitutes.arrow_forwardWhat are the different ways of creating a competitive advantage? Explain with examplesarrow_forward
- Identify the value-chain activities that appear to underlie Heartsong’s competitive advantage?arrow_forwarddraw a five forces diagram for the organic food industry, and briefly discuss the nature and strength of each of the five competitive forces.arrow_forwardExplain the five forces that a manager must consider in his strategic choice for competitive advantages as proposed by Michael Porter .arrow_forward
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