Chapter 3 Flashcards
1
Q
Resource based view
A
Resources should be valuable, rare, inimitable, and non-substitutional
2
Q
Decision to exploit new entry or not
A
See graph photo
3
Q
Customer uncertainty reduction
A
Informative advertising and comparison marketing
4
Q
Market scope types
A
Narrow-scope (small product range to a small number of customer groups) or broad (takes “portfolio” approach and offers range of products)
5
Q
Imitation strategy options
A
Franchising, “me-too” strategy
6
Q
First mover advantages/disadvantages
A
Advantages: cost, less competition, secure important channels, prime position, expertise from participation
Disadvantages: environmental instability, customer uncertainty, short lead time
