Term
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Definition
define
1. customer needs
2. customer groups
3. distinctive competencies |
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Term
| approaches to market segmentation |
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Definition
- no market segmentation: product is targeted at avg customer
- high market segmentation: diff product offered in each mkt segment
- focused mkt segmentation: product offered to one or a few segments |
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Term
| competitive positioning generic strategies |
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Definition
differentiating products - higher costs/higher prices
cost leadership - lower costs/lower prices |
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Term
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Definition
based on combining cost leadership and focused business-level strategies to compete for customers in one or a few market segments
concentrates on small volume customer products for which company has cost advantage |
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Term
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Definition
| combines generic business-level strategies and differentiation to make distinctive products for one or two market segments |
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Term
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Definition
| companies that have developed business-level strategies to improve their differentiation and cost structure simultaneously |
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Term
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Definition
+ protects company against the threat of "potential competitors"
- danger of imitation |
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Term
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Definition
+ protects company against the threat of "potential competitors"
- hinged on how well strategic manager can maintain a product's perceived distinctness |
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Term
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Definition
| - does not protect against powerful suppliers |
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