Competitive strategy aims to establish a profitable and sustainable position against the forces that determine industry competition” (Porter, 1985). Evaluate the five basic competitive strategies pursued by organizations in order to create sustainable competitive advantage

Competitive strategy aims to establish a profitable and sustainable position against the forces that determine industry competition” (Porter, 1985). Evaluate the five basic competitive strategies pursued by organizations in order to create sustainable competitive advantage

Marketing

20th Edition

ISBN:9780357033791

Author:Pride, William M

Publisher:Pride, William M

Chapter2: Planning, Implementing, And Evaluating Marketing Strategies

Section: Chapter Questions

Problem 1DYMP

See similar textbooks

Related questions

Q: How Does Mcdonalds use IT to create a cross functional enterprise system that closely understand…

A: McDonald's McDonald's has transformed the way fast food is utilized across the world. With 304…

Q: What are the five generic competitive strategies? Briefly describe each one and identify the type of…

A: A competitive advantage refers to a situation when a company performs better in comparison to its…

Q: Using an industry of your choice, explain how a company can make use of the Ansoff Matrix to develop…

A: Let us draft a view of the Ansoff Matrix by taking Apple company as an example. Following are the…

Q: Discuss the two main activities to create competitive advantage?

A: Organizations are global these days. They are trying to gain a competitive advantage over one…

Q: Analyse Afterpay Limited's competitive environment using the PESTEL model.

A: Analysis of competitive environment includes SWOT analysis as well as all the factors of the…

Q: competitive forces affecting IKEA using a fundamental framework

A: IKEA is a notable Swedish brand of home outfitting items. Today there are 296 absolute IKEA stores…

Q: Using the five competitive factors approach and the information in the case, do a brief…

A: When a business organization is carrying out operations in an environment there are several factors…

Q: Using Porter's 5 - forces model, explain and evaluate the business competitiveness and industry…

A: Starbucks is the world’s largest coffeehouse chain which is an American MNC.

Q: e explain in yo

A: Competitive Advantage refers to factors that permit an organization to deliver products or…

Q: Analyze the mission statement of any company on the basis of major competitive sphere

A: Mission Statements - It is made for short period of time. It will define the aim behind why the…

Q: MC theatre

A: In the United States, AMC Entertainment, via its American Multi-Cinema, Inc. subsidiary, is one of…

Q: Given below a table of Competitive Profile Matrix of four major competitors in the soft drinks…

A: In the given situation, Data are given in the form of weight and rating which will help the…

Q: Some factors to consider in assessing the existing level of competitive intensity in an industry…

A: In the given multiple choice question, we are given a scenario of competitive intensity in an…

Q: Contrast past and present business environments with regard to the following aspects: basis of…

A: Business environment is evolving with time. All the aspects of business whether labor skills,…

Q: The sum total set of interrelationships that establish the manner in which competitors behave in an…

A: Competitive advantage states the factors which allow the company to produce the goods and services…

Q: Identify the organization’s competitive advantage. I

A: Competitive advantage refers to factors that allow a company to produce goods or services at a low…

Q: What are the six key questions that form the framework of thinking strategically about a company's…

A: Company works under a particular industry.For example levis is a company that works under the…

Q: 6.4 Competitive Advantage (Figure 6-3) We discussed three types of competitive advantages- cost,…

A: Competitiveness emerges due to certain in built operational features and speciality in work process…

Q: What are the primary factors that shape competition in an industry, according to Porter’s model?

A: The SWOT analysis, the PEST analysis and the Porter's Five forces model are the three most commonly…

Q: 1. Complete a Competitive Strategies Model for the automotive industry. Include at least two…

A: Competitive Strategy is described as the long-duration strategy of a particular organization in…

Q: The industry environment plays a critical role in the profitability of a company. Hence, companies…

A: Environmental factors affect a business in many ways. The factors which affect a business internally…

Q: How might a planner decide on competitive growthstrategies using tools such as the market…

A: The Ansoff matrix has been used by marketers for decades as it can help marketers understand the…

Q: There are four macro strategies to create and deliver value to customers and that can help a firm to…

A: Customer loyalty appears to be something that brands can desire to purely because of their presence:…

Q: Describe the tools or model normally used in analysing industry forces and firm’s internal resources…

A: Industry analysis is a market evaluation instrument utilized by organizations and examiners to…

Q: Identity the contextual influence that you believe will pose the greatest challenge to companies'…

A: Contextual influence refers to the selective professional impacts experienced by people's families,…

Q: edge within their particular business

A: Porter's Five Forces is a model that distinguishes and dissects five serious forces that shape each…

Q: A business-level strategy assists a company in establishing and exploiting a specific competitive…

A: Levels of Strategy are divided into 3 parts - On the top - corporate level In the middle-…

Q: In Porter and van der Linde's article "Green and Competitive," they put forth the argument that…

A: Introduction:- The gratefully acknowledge John C. Bonifant, David C. Smith and smith, Donald B.…

Q: What is the relevance of the resources and capabilities of an organization in enabling competitive…

A: When an organization promotes profits that beat the standard for its industry, the organization is…

Q: 1. Explain the difference among product-driven, sales driven, and market driven firms. Why are these…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: ) Elaborate on the concept of Competitive Advantage. Give 2 examples of competitive…

A: ANSWER: 1(A) Competitive advantage: It allow a company to produce goods or services more cheap.…

Q: The three strategic approaches to competitive advantage are____, ____, and _____.

A: The strategic approaches are the ways through which a firm makes itself unique in the market so that…

Q: According to Porter, what determines the level of competitive intensity in an industry?

A: The level of competition intensity in an industry can be determined by the following:

Q: customer-driven corporate policy, supply chain management, and other supply chain elements get cited…

A: Supply chain management (SCM) addresses a piece by vendors to create and perform supply chains…

Q: highlight the different types of generic strategies and then critically explain how buisnesses can…

A: Competitive Advantage is an element using which a company puts itself in a superior and better…

Q: Companies are encouraged to establish a competitive advantage. But Peter Senge (2006), author of The…

A: Competitive advantage means that a company can produce better quality goods at lower cost of…

Question

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.

Similar questions

Identify the six forces that shape competition in an industry. Describe how changes in the strength of these forces affect prices, profitability, and under which circumstances each can be considered a threat or opportunity. Why is a competitive analysis using the competitive forces framework a benefit to industry?
How can an organization effectively identify and leverage untapped opportunities within the elements of its value chain to enhance overall business performance and competitive advantage?
Creating a sustainable competitive advantage may be the most important goal of any organisation and may be the most important single attribute on which each business must prioritise. Explain the importance of managing information for sustaining competitive advantage.
An industry's key success factors A) can be determined from studying the "winning" strategies of the industry leaders and ruling out as potential key success factors the strategy elements of those firms considered to have "losing" strategies. B) depend on the relative competitive strengths of the industry leaders and how vulnerable they are to competitive attack. C) are a function of market share, entry barriers, economies of scale, degree of vertical integration, and industry profitability. D) can be determined through identifying an industry's dominant economic characteristics, assessing the five competitive forces, and considering the impacts of the driving forces. E) vary according to whether an industry has high or low long-term attractiveness.
Analyze the mission statement of any company on the basis of major competitive sphere
Explain the advantages and disadvantages of different types of business. Describe the various costs which are classified based on analytical and decision making.
Identify and briefly explain any four of the factors that influence the strength or intensity of competitive rivalry among an industry's member firms.
What are the primary factors that shape competition in an industry, according to Porter’s model?
Provide an action plan that the company needs to take to achieve competitive advantage over its rival companies.
Explain how a company can make use of the Ansoff Matrix to develop a competitive strategy
A company achieves sustainable competitive advantage when: Answer D) its strategy and its business model are well-matched and in sync. C) it is consistently able to achieve both its strategic and financial objectives. B) it has a profitable business model. A) an attractive number of buyers have a lasting preference for its products or services as compared to the offerings of competitors.
Explain the strategic option that takes the organization away from its existing products and markets showing its main advantages and disadvantages and the appropriate methods for its implementation?