Management and Organizational Studies 2320A/B Study Guide - Cost Leadership, Operational Excellence, Playstation 4

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Angela White

Document Summary

Chapter eighteen- creating competitive advantage. Competitive advantage: an advantage over competitors gained by offering consumers greater value than competitors do. Competitor analysis is the process of identifying, assessing, and selecting key competitors: creating competitive advantage. Strategic group offers the strongest competition. Selecting competitors to attack and avoid: strong or weak competitors, close or distant competitors, good or bad competitors. Entrepreneurial marketing involves visualizing an opportunity and constructing and implementing flexible strategies: competitive strategies. Formulated marketing involves developing formal marketing strategies and following them closely. Intrepreneurial marketing involves the attempt to reestablish an internal entrepreneurial spirit and refresh marketing strategies and approaches. Michael porters four basic competitive positioning strategies. Porter considered no clear strategy to be middle of the road . Product leadership refers to a company providing superior value by offering a continuous stream of leading- edge products or services. Product leaders are open to new ideas and solutions and bring them quickly to the market.