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Textbook:
Pages : 538;
Paperback;
210 X 275 mm approx.
Chapter Code : SMMC13
Textbook Price: Rs. 900;
Shipping & Handling Charges: Rs. 100 per book;
Books Available only in INDIA
An organization has to gain competitive advantages, i.e. advantages over competitors, in order to be successful in the market place. Competitive advantage for an organization depends on the industry in which it is operating and the position which it maintains in its chosen industry. |
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Sustaining a competitive advantage is a difficult task. Some of the important factors that can help a firm obtain a sustainable competitive advantage are market orientation, proper understanding of direct as well as potential competitors, an understanding of the changes in the marketing environment, product differentiation, market segmentation, etc. Sustainable competitive advantage can also be obtained by the growth of an organization in the market, either naturally or through acquisitions.
In any market there will be a market leader which has maximum market share, followed by challengers who try to overtake the market leader. In addition, there will be various followers and nichers. Another player in the market is the pioneer which, in most cases, will be the market leader. The strategies to be adopted by all these players will be different. For a market leader, the objective may be to consolidate its position in the market and to increase its market share. For a challenger, the priority may be to conduct an offensive attack against the market leader in order to gain a greater market share. Followers may try to follow the same strategies that are adopted by the market leader. A nicher may try to serve its chosen market segment effectively and to gain customer loyalty. In the case of pioneers, they are also able to obtain various competitive advantages which help them capture a very good market share.
A successful strategy may not remain as such for a long period. This is because after some time, market conditions will change and the effectiveness of the strategy will decline. This strategic wear-out, is to be avoided by adapting to the changes in the tastes and preferences of customers.
Porter's Five Competitive Forces
Potential Entry of New Competitors
Threat from Substitutes
Bargaining Power of Buyers
Bargaining Power of Suppliers
Competition between Already Existing Firms
Porter's Generic Competitive Strategies
Cost Leadership Strategy
Differentiation Strategy
Focus Strategy
Risks Associated with Generic Strategies
Deciding on the most Suitable Generic Strategy
Some Criticisms against Porter's Generic Strategies
Identifying Potential Competitive Advantages
Value Chain Analysis
Sustaining the Competitive Advantage
Influence of Market Position on Strategy
Market Leader Strategies
Market Challenger Strategies
Market Follower Strategies
Market Nicher Strategies
Market Pioneer Strategies
Strategic Wear-Out
