Term
| 4 Levels of Market Competition |
|
Definition
Product Form
Product Category
Generic
Budget |
|
|
Term
|
Definition
| Includes products that have same features and similar values of those features; extremely narrow and considers only products that "look" the same; it is convenient because it mimics the way commercial data services measure market share |
|
|
Term
| Product Category Competition |
|
Definition
| Includes products with similar features; thought of as the "industry"; broader than product form but still short-term |
|
|
Term
|
Definition
| Includes products and services that fulfill the same customer need; looks outward while the previous 2 look inward; looks to the consumer to determine what alternative products solve their problems |
|
|
Term
|
Definition
| Includes all products and services competing for the same customer dollar; conceptually useful but very difficult to implement b/c of too many competitors |
|
|
Term
| Managerial Judgment in defining competitors |
|
Definition
They use a table with products A, B, C, D;
Box A: product form competition,
Box B: potential future competitors that serve the same customers but not with the same product
Box C: Same product but different customers
Box D: Different customers and products but could become a competitor in the future
Three factors influence managers perception of a competitor: size, success, threatening behavior |
|
|
