Marketing Final     Exists when there is a match between a firms distinctive competencies and the factors critical for the success within the industry

1. Competitive analysis

Exists when there is a match between a firms distinctive competencies and the factors critical for the success within the industry.

2. Generic Strategies

1) Overall Cost Leadership
2) Product Differentiation
3) Cost Focus
4) Focus differentiation

3. Cost Leadership

A business strategy of providing the lowest prices in the industry for a particular product, product line, or service.

4. Differentiation

the positioning strategy of providing a product or service that is sufficiently different from competitors' offerings that customers are willing to pay a premium price for it

5. Focused Differentiation

a competitive strategy that involves providing a competitive and unique product and/or service to a narrow market area

6. Cost Focus

Narrow target position: Firms lower cost position enables it to offer a narrow target market and lower prices than a competition exp.Big Mac for Kids

7. economies of scale

as a company produces larger numbers of a particular product, the cost of each unit of the product goes down

8. Capital requirements

In this context, a combination of the capital required to integrate sufficiently to target a large enough market segment.

9. Switching Costs

The one-time expenses [set-up, take-down, termination fees, etc.] associated with dismantling the current operation and putting a new one in its place.

10. Distribution Channels

Systems for moving goods and services from producers to customers; also known as marketing channels