Term
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Definition
| Company offers lowest prices through lower production and distribution costs. |
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Term
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Definition
| Company is the class leader in a product |
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Term
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Definition
| Company serves select customers rather than a broad market. Ex: Ritz-Carlton |
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Term
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Definition
| Leader in price and convenience. |
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Term
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Definition
| Segments markets and tailors its products and services for select customers. |
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Term
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Definition
| Best products or services |
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Term
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Definition
| firm in the industry with the largest market share 40% |
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Term
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Definition
| market share runner up 30% |
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Term
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Definition
| serves small segments of markets that other companies overlook 10% |
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Term
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Definition
| runner-up firm that needs to maintain share without taking risks |
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Term
| competitor-centered company |
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Definition
| moves based on competitors' |
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Term
| customer-centered company |
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Definition
| focuses moves on customer developments |
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Term
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Definition
| group of firms in an industry following the same or similar strategy in a target market. |
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Term
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Definition
| comparing the company's products and processes to those of competitors. |
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Term
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Definition
| analysis to determine what benefits target customers value and how they rate relative value of various competitors' offers |
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Term
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Definition
| operates in more than one country and gains key advantages |
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Term
| General Agreement on Tariffs and Trade |
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Definition
| designed to promote world trade by reducing tariffs and other international trade barriers. |
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Term
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Definition
| oversees GATT provisions, imposes international trade sanctions and global trade disputes. |
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Term
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Definition
| group of nations organized to work toward common goals in the regulation of international trade. |
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