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Asymmetric Competition
Asymmetric competition refers to forms of business competition where firms are considered competitors in some markets or contexts but not in others. In such cases a firm may choose to allocate competitive resources and marketing actions among its competitors out of proportion to their market share. Asymmetric competition can be visualized using techniques such as multidimensional scaling and perceptual mapping. Forms of asymmetric competition *Firm A may compete with B in some markets but not others. *Firm A competes with B over certain attributes (such as reliability and design) but not over others (price). *Firm A considers B as a competitor but B does not consider A to be a competitor. *Firm A does not consider B to be a competitor, however, consumers see A's products as competing with B's products. See also *Competition *Coopetition *Product differentiation * Non-price competition *Information asymmetry *Multimarket contact *Size-asymmetric competition References Bibliography ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business
Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit." Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. The term is also often used colloquially (but not by lawyers or by public officials) to refer to a company, such as a corporation or cooperative. Corporations, in contrast with sole proprietors and partnerships, are a separate legal entity and provide limited liability for their owners/members, as well as being subject to corporate tax rates. A corporation is more complicated ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-price Competition
Non-price competition is a marketing strategy "in which one firm tries to distinguish its product or service from competing products on the basis of attributes like design and workmanship". It often occurs in imperfectly competitive markets because it exists between two or more producers that sell goods and services at the same prices but compete to increase their respective market shares through non-price measures such as marketing schemes and greater quality. It is a form of competition that requires firms to focus on product differentiation instead of pricing strategies among competitors. Such differentiation measures allowing for firms to distinguish themselves, and their products from competitors, may include, offering superb quality of service, extensive distribution, customer focus, or any sustainable competitive advantage other than price. When price controls are not present, the set of competitive equilibria naturally correspond to the state of natural outcomes in Hatfield ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jerry (Yoram) Wind
Jerry (Yoram) Wind is The Lauder Professor and Professor of Marketing at The Wharton School of the University of Pennsylvania, and is the founding director of the Wharton "think tank,” The SEI Center for Advanced Studies in Management. He is internationally known for pioneering research on organizational buying behaviour, market segmentation, conjoint analysis, and marketing strategy. He consults with major firms around the world, provides expert testimony in many intellectual property and antitrust cases, and has lectured in over 50 universities worldwide. Education Professor Wind received his PhD from Stanford University in 1967 and his MA (1963)and B Soc Sci (1961) degrees from The Hebrew University in Jerusalem. He also received an M.A. Honors from the University of Pennsylvania. Career Over the years, Wind has served as editor-in-chief of the '' Journal of Marketing'', the policy boards of the ''Journal of Consumer Research'' and '' Marketing Science'', the editorial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rajdeep Grewal
Rajdeep 'Raj' Grewal is the Townsend Family Distinguished Professor of Marketing at Kenan-Flagler Business School, University of North Carolina at Chapel Hill. He is the editor-in-chief of Journal of Marketing Research. He is known for his work on marketing research, marketing strategy and business to business marketing. Research Grewal has used quantitative methods to theoretically and empirically study social networks and interactions, competitive strategy and the role of marketing within an organization. His work has been published in Journal of Marketing, Journal of Marketing Research, Marketing Science, Information Systems Research, Strategic Management Journal, Decision Sciences and Management Science. In 2016, Grewal was given the AMA Marketing Strategy SIG's 2016 Mahajan Award for lifetime contributions to Marketing Strategy Marketing strategy allows organizations to focus limited resources on best opportunities to increase sales and achieve a competitive advan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wayne DeSarbo
Wayne DeSarbo is the Mary Jean and Frank P. Smeal Distinguished Professor of Marketing at the Smeal College of Business at Pennsylvania State University at University Park and executive director the Center for Sports Business and Research. He is known for his work on multidimensional scaling, and multivariate statistics in relation to marketing research. He is a fellow of the American Statistical Association. Awards * Raymond B. Cattell Early Career Research Award *Charles Coolidge Parlin Marketing Research Award Selected publications *Fong, Duncan KH, Sunghoon Kim, Zhe Chen, and Wayne S. DeSarbo. "A Bayesian Multinomial Probit Model for the Analysis of Panel Choice Data." Psychometrika 81, no. 1 (2016): 161–183. *Lenk, Peter J., and Wayne S. DeSarbo. "Bayesian inference for finite mixtures of generalized linear models with random effects." Psychometrika 65, no. 1 (2000): 93–119. *Jedidi, Kamel, Harsharanjeet S. Jagpal, and Wayne S. DeSarbo. "Finite-mixture structural equation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tibor Scitovsky
Tibor de Scitovsky, also known as Tibor Scitovsky (November 3, 1910 – June 1, 2002), was a Hungarian born, American economist who was best known for his writing on the nature of people's happiness in relation to consumption. He was Associate Professor and Professor of Economics at Stanford University from 1946 through 1958 and Eberle Professor of Economics from 1970 until his retirement in 1976, when he became Professor Emeritus. In honor of his deep contributions to economic analysis, he was elected Distinguished Fellow of the American Economic Association, Fellow of the Royal Economic Society, member of the American Academy of Arts and Sciences, and Corresponding Fellow of the British Academy. Life Scitovsky was born in Hungary in 1910. As the ''de'' indicates, he was born into a noble family; his father, Tibor Scitovszky, held the post of Foreign Minister. He was educated at the Pázmány Péter University (from which he held an undergraduate degree in law), University ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Size-asymmetric Competition
Size-asymmetric competition refers to situations in which larger individuals exploit disproportionately greater amounts of resources when competing with smaller individuals.Schwinning, S. & Weiner, J. Mechanisms determining the degree of size asymmetry in competition among plants. Oecologia 113 doi:10.1007/s004420050397 (1998). This type of competition is common among plantsWeiner, J. Asymmetric competition in plant-populations. Trends in Ecology & Evolution 5, 360-364, doi:10.1016/0169-5347(90)90095-u (1990) but also exists among animals. Size-asymmetric competition usually results from large individuals monopolizing the resource by "pre-emption". i.e. exploiting the resource before smaller individuals are able to obtain it. Size-asymmetric competition has major effects on population structure and diversity within ecological communities.Rajaniemi, T. K. Explaining productivity-diversity relationships in plants. Oikos 101, 449-457, doi:10.1034/j.1600-0706.2003.12128.x (2003)Lamb, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Multimarket Contact
Multimarket contact occurs when firms compete with the same rivals in multiple markets. When firms compete with each other in more than one market, their competitive behavior may differ from that of single-market rivals. Multimarket contact gives a firm the option to respond to actions or attacks by a rival not only in the market being challenged, but also in other markets where they both compete. As a result, multimarket competitors may hesitate to attack in one market for fear of retaliation Revenge is committing a harmful action against a person or group in response to a grievance, be it real or perceived. Francis Bacon described revenge as a kind of "wild justice" that "does... offend the law ndputteth the law out of office." Pr ... in other markets. Multimarket competition may therefore reduce the competitive intensity among rivals, an effect known as mutual forbearance. References * * {{cite journal , last=Yu , first=Tieying , author2=Cannella, Alberta , year=2007 , ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Information Asymmetry
In contract theory and economics, information asymmetry deals with the study of decisions in transactions where one party has more or better information than the other. Information asymmetry creates an imbalance of power in transactions, which can sometimes cause the transactions to be inefficient, causing market failure in the worst case. Examples of this problem are adverse selection, moral hazard, and monopolies of knowledge. A common way to visualise information asymmetry is with a scale with one side being the seller and the other the buyer. When the seller has more or better information the transaction will more likely occur in the seller's favour ("the balance of power has shifted to the seller"). An example of this could be when a used car is sold, the seller is likely to have a much better understanding of the car's condition and hence its market value than the buyer, who can only estimate the market value based on the information provided by the seller and their own a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product Differentiation
In economics and marketing, product differentiation (or simply differentiation) is the process of distinguishing a product or service from others to make it more attractive to a particular target market. This involves differentiating it from competitors' products as well as from a firm's other products. The concept was proposed by Edward Chamberlin in his 1933 book, '' The Theory of Monopolistic Competition''. Rationale Firms have different resource endowments that enable them to construct specific competitive advantages over competitors. Resource endowments allow firms to be different, which reduces competition and makes it possible to reach new segments of the market. Thus, differentiation is the process of distinguishing the differences of a product or offering from others, to make it more attractive to a particular target market. Although research in a niche market may result in changing a product in order to improve differentiation, the changes themselves are not di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Share
Market share is the percentage of the total revenue or sales in a market that a company's business makes up. For example, if there are 50,000 units sold per year in a given industry, a company whose sales were 5,000 of those units would have a 10percent share in that market. "Marketers need to be able to translate and incorporate sales targets into market share because this will demonstrate whether forecasts are to be attained by growing with the market or by capturing share from competitors. The latter will almost always be more difficult to achieve. Market share is closely monitored for signs of change in the competitive landscape, and it frequently drives strategic or tactical action."Farris, Paul W.; Neil T. Bendle; Phillip E. Pfeifer; David J. Reibstein (2010). ''Marketing Metrics: The Definitive Guide to Measuring Marketing Performance.'' Upper Saddle River, New Jersey: Pearson Education, Inc. . The Marketing Accountability Standards Board (MASB) endorses the definitions, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coopetition
Coopetition or co-opetition (sometimes spelled "coopertition" or "co-opertition") is a neologism coined to describe cooperative competition. Coopetition is a portmanteau of cooperation and competition. Basic principles of co-opetitive structures have been described in game theory, a scientific field that received more attention with the book '' Theory of Games and Economic Behavior'' in 1944 and the works of John Forbes Nash on non-cooperative games. Coopetition occurs both at inter-organizational or intra-organizational levels. Overview The concept and term ''coopetition'' and its variants have been re-coined several times in history. The concept appeared as early as 1913, being used to describe the relationships among proximate independent dealers of the Sealshipt Oyster System, who were instructed to cooperate for the benefit of the system while competing with each other for customers in the same city. Inter-organizational The term and the ideas around co-opetition gained ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
