Competitors are firms competing in the same market offering, Ask an Expert

Economics

Competitors are firms competing in the same market, offering products that are similar, while targeting specific customers in order to gain a competitive advantage. In this assignment you will demonstrate your understanding of how to create and maintain a competitive advantage, answer the following questions:

• What is market commonality?

What is resource similarity? What does it mean to say that these concepts are the building blocks for a competitor analysis?

• What factors affect the likelihood that a firm will take competitive action?

• What factors affect the likelihood a firm will initiate a competitive response to the action taken by a competitor?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91865471

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