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SEVI 3013 Exam 2- Uark Questions & Answers 100% Correct!
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Strategic Action - ANSWERSa market-based move that involves a significant commitment of organizational resources and is difficult to implement and reverse Tactical action - ANSWERSa market-based move that is taken to fine-tune a strategy; it involves fewer resources and is relatively easy to imp...

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  • 16 de diciembre de 2024
  • 11
  • 2024/2025
  • Examen
  • Preguntas y respuestas

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  • sevi 3013 exam 2 uark questions answers 100 co
  • strategic action answersa market based move that
  • strategic action answersa market based move that

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SEVI 3013 Exam 2- Uark Questions &
Answers 100% Correct!
Strategic Action - ANSWERSa market-based move that involves a significant
commitment of organizational resources and is difficult to implement and reverse

Tactical action - ANSWERSa 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 - ANSWERSa strategic or tactical action the firm takes to build or
defend its competitive advantages or improve its market position

Competitive Response - ANSWERSa strategic or tactical action the firm takes to
counter the effects of a competitor's competitive action

Competitors - ANSWERSfirms operating in the same market, offering similar products,
and targeting similar customers

Competitive rivalry - ANSWERSthe 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: - ANSWERS§ Ability to develop
and then sustain its competitive advantages
§ Level (average, below average, or above average) of financial return.

Competitive Behavior - ANSWERSthe 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 - ANSWERSoccurs when firms compete against each other in
several product or geographic markets

Competitive dynamics - ANSWERSThe total set of actions and responses taken by all
firms competing within a market.

competitor analysis - ANSWERShow companies gather and interpret information about
their competitors- to understand

Competitor analysis studies: - ANSWERSFuture objectives, current strategies,
assumptions, capabilities

, To complete a competitor analysis, firms study: - ANSWERSmarket commonality and
resource similarity

market commonality and resource similarity shape the firms: - ANSWERSAwareness,
motivation, ability

Awareness - ANSWERSrefers to the extent to which competitors recognize the degree
of their mutual interdependence

Motivation - ANSWERSconcerns the firms incentive to take action or to respond to a
competitors attack

Ability - ANSWERSrefers to the quality of resources available to the firm to attack and
respond

Resource Dissimilarity - ANSWERSthe more significant the difference between
resources owned by the acting firm and those against whom it has taken action, the
longer is the delay by the firm with a resource disadvantage

-influences competitive actions and responses firms choose to take

Cost - ANSWERSthe amount of money a firm pays to deliver products or services to the
customer

Price - ANSWERSwhat the customer pays to obtain the product or service

Competitive Dynamics differ in: - ANSWERSslow, fast, and standard cycle markets

First mover - ANSWERSa firm that takes an initial competitive action in order to build or
defend its competitive advantages or to improve its market position

First-mover benefits are often critical to a firm's success in industries: - ANSWERS-
experiencing rapid technological developments
-with relatively short product life cycles

In addition to earning above-average returns until its competitors respond to its
successful competitive action, the first mover can gain: - ANSWERS-the loyalty of
customers
-market share

First movers tend to: - ANSWERS•Be aggressive
•Be willing to experiment with innovation
•Take higher yet reasonable levels of risk

To be a first mover, the firm must have readily available resources to: - ANSWERS-
Invest significantly in R&D

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