MIS 3305 Chapter Notes - Chapter 2: Product Differentiation, Competitive Intelligence, Cost Leadership

• School: Baylor University
• Department: Management Information Systems
• Course: MIS 3305
• Professor: Esserman

Document Summary

This first-mover advantage occurs when a company can significantly increase its market share by being first with a new competitive advantage. Three generic business strategies for entering a new market: focused. 3 goals/objectives to achieve a solid business strategy: decreasing costs, increasing sales, attracting new customers. The threat of a new entrant is high when it is easy for new competitors to enter a market and low when there are significant entry barriers. Inbound logistics: acquires raw materials and resources and distributes to manufacturing as required. Operations: transforms raw materials or inputs into goods and services. Outbound logistics: distributes goods and services to customers. Marketing and sales: promotes, prices, and sells products to customers. Service: provides customer support after the sale of goods and services. A value chain analysis views a firm as a series of business processes that each add value to the product or service.