Download or read book Structural Analysis of Competitive Behavior written by Vrinda Kadiyali and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The impact of a firm's strategic marketing mix choices on profitability can be evaluated by understanding the impact of those choices on consumer demand for the firm's products and on the firm's costs. Additionally, a firm's strategic marketing mix choices, and its demand and costs can be affected by rival firms' strategic choices. Therefore, to understand the effects of choice of marketing mix on profitability, we have to understand its effects on demand, cost and competitor reactions. The effects of choices of marketing mix on consumer demand have been analyzed in great depth in marketing, but research on the strategic reactions of competitors to such choices have been far more limited. The New Empirical Industrial Organization (NEIO) framework provides us with a source of methods that has potential to substantially add to our insights about competitive interactions among firms. In this paper, we first discuss a simple NEIO model to illustrate the basic methodology. We then discuss the contributions of this literature to our knowledge of competitive marketing strategy. In the process, we discuss methodological extensions of the basic model that are needed to model the institutional realities of specific markets. We also summarize how the existing literature has evolved, and provide our view of where the literature might profitably proceed from here. In particular, we discuss how future methodological innovations in the dynamics of competition, discrete strategy choice, and asymmetric information estimation will enable wider application of this methodology to competitive marketing strategy issues. The main advantage of NEIO studies is that they provide greater understanding of the competitive behavior in specific markets or industries compared to cross-sectional studies across industries. Bountiful opportunities exist for additional studies that focus on similar phenomena in different markets to draw generalizable conclusions from this line of research.
Download or read book Competitive Pricing Behavior in the Us Auto Market written by K. Sudhir and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a competitive marketplace, the effectiveness of any element of the marketing mix is determined not only by its absolute value, but its relative value with respect to the competition. For example, the effectiveness of a price cut in increasing demand is critically related to competitors' reaction to the price change. Managers therefore need to know the nature of competitive interactions among firms. In this paper, we take a theory-driven empirical approach to gain a deeper understanding of the competitive pricing behavior in the US auto market. The ability-motivation paradigm posits that a firm needs both the ability and the motivation to succeed in implementing a strategy (Boulding and Staelin, 1995). We use arguments from the game theoretic literature to understand firm motivation and abilities in different segments of the auto market. We then combine these insights from the game theoretic literature and the ability-motivation paradigm to develop hypotheses about competition in different segments of the US auto market. To test our hypotheses of competitive behavior, we estimate a structural model that disentangles the competition effect from the demand and cost effects on prices. The theory of repeated games predicts that firms with a long run profitability objective will try to sustain cooperative pricing behavior as a stable equilibrium if conditions permit. For example, markets with high concentration and stable market environments are favorable for sustaining cooperative behavior and therefore provide firms with the ability to cooperate. The theory of switching costs suggests that in markets where a firm's current customers tend to be loyal, firms have a motivation to compete very aggressively for new customers, recognizing the positive benefits of loyalty from the customer base in the long run. As consumer loyalty in the market increases, the gains from increasing market share by aggressive competitive behavior are more than offset by losses in profit margins. Firms therefore have the motivation to price cooperatively. Empirically, we find aggressive behavior in the mini-compact and subcompact segments, cooperative behavior in the compact and midsize segments and Bertrand behavior in the full-size segment. These findings are consistent with our theory-based hypotheses about competition in different segments. In estimating a structural model of the auto market, we address several methodological issues. A particular difficulty is the large number of car models in the US auto market. Existing studies have inferred competitive behavior only in markets with two to four products. They also use relatively simple functional forms of demand to facilitate easy estimation. Functional forms of demand however impose structure on cross-elasticities between products. Such structure if inappropriate can bias the estimates of competitive interaction. We therefore use the random coefficients logit demand model to allow flexibility in cross-elasticities. We also use recent advances in New Empirical Industrial Organization (NEIO) to extend structural estimation of competitive behavior to markets with a large number of products. We use the simulation based estimation approach developed by Berry, Levinsohn and Pakes (1995) to estimate our model. A frequent criticism of the NEIO approach is that its focus on industry specific studies limits the generalizability of its findings. In this study, we retain the advantages of NEIO methods, but partially address the issue of generalizability by analyzing competitive behavior in multiple segments within the auto industry to see if there is a consistent pattern that can be explained by theory. Theoretical modelers can use our results to judge the appropriateness of their models in predicting competitive outcomes for the markets that they analyze. A by-product of our analysis is that we also get estimates of demand and cost apart from competitive interactions for the market. Managers can use these estimates to perform "what-if" analysis. They can answer questions such as what prices to charge when a new product is introduced or when an existing product's characteristics are changed.
Download or read book Structural Holes written by Ronald S. Burt and published by Harvard University Press. This book was released on 2009-06-30 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ronald Burt describes the social structural theory of competition that has developed through the last two decades. The contrast between perfect competition and monopoly is replaced with a network model of competition. The basic element in this account is the structural hole: a gap between two individuals with complementary resources or information. When the two are connected through a third individual as entrepreneur, the gap is filled, creating important advantages for the entrepreneur. Competitive advantage is a matter of access to structural holes in relation to market transactions.
Download or read book Essays on the Structural Analysis of Strategic Choice written by Sudhir Karunakaran and published by . This book was released on 1998 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Analysis of Competitive Structure in the Uranium Supply Industry written by Joseph P. Mulholland and published by . This book was released on 1979 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Competitive Strategy written by Michael E. Porter and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Michael Porter presents a comprehensive structural framework and analytical techniques to help a firm to analyze its industry and evolution, understand its competitors and its own position, and translate this understanding into a competitive strategy to allow the firm to compete more effectively to strengthen its market position. The introduction reviews a classic approach to strategy formulation, one that comprises a combination of ends and means (policies), factors that limit what a company can accomplish, tests of consistency, and an approach for developing competitive strategy. A competitive strategy articulates a firm's goals, how it will compete, and its policies for achieving those goals. Competitive advantage is defined in terms of cost and differentiation while linking it to profitability. Part I, "General Analytical Techniques," provides a general framework for analyzing the structure of an industry and understanding the underlying forces of competition (and hence profitability). Five competitive forces act on an industry: (1) threat of new entrants, (2) intensity of rivalry among existing firms, (3) threat of substitute products or services, (4) bargaining power of buyers, and (5) bargaining power of suppliers. Looking at industry structure provides a way to consider how value is created and divided among existing and potential industry participants. One competitive force always captures essential issues in the division of value.There are three generic competitive strategies for coping with the five competitive forces: (1) overall cost leadership, (2) differentiation, and (3) focus. There are risks with each strategy. A firm without a strategy is "stuck in the middle." This framework for examining competition transcends particular industry, technology, or management theories. Building on this framework, techniques are presented for industry forecasting, analysis of competitors, predicting their behavior, and building a response profile. Essential for a competitive strategy are techniques for recognizing and accurately reading market signals. Implications of structural analysis for buyer selection and purchasing strategy are presented. Game theory provides concepts for responding to competitive moves. Using the concept of strategic groups, structural analysis can also explain differences in firm performance (profitability), provide a guide for competitive strategy, and predict industry evolution. Part II, "Generic Industry Environments," shows how firms can use the analytical framework to develop a competitive strategy in industry environments, which reflect differences in industry concentration, state of industry maturity, and exposure to international competition. These environments determine a business's competitive strategic context, available alternatives, and common strategic errors. Five generic industry environments are examined: fragmented industries (where level of industrial concentration is low), emerging industries, transition to industry maturity, declining industries, and global industries. In each, the crucial aspects of industry structure, key strategic issues, characteristic strategic alternatives (including divestment), and strategic pitfalls are identified. Part III, "Strategic Decisions," draws on the analytical framework to examine important types of strategic decisions confronting firms that compete in a single industry: vertical integration, major capacity expansion, and new business entry. Additional use of economic theory and administrative consideration of management and motivation helps a company to make key decisions, and gives insight into how competitors, customers, suppliers, and potential entrants might make them. Appendix A discusses use of techniques for portfolio analysis applied to competitor analysis. Appendix B provides approaches to conducting an industry study, including sources of field and published dat.
Download or read book FCC Record written by United States. Federal Communications Commission and published by . This book was released on 2007 with total page 1028 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Handbook of Marketing Decision Models written by Berend Wierenga and published by Springer Science & Business Media. This book was released on 2008-09-11 with total page 621 pages. Available in PDF, EPUB and Kindle. Book excerpt: Marketing models is a core component of the marketing discipline. The recent developments in marketing models have been incredibly fast with information technology (e.g., the Internet), online marketing (e-commerce) and customer relationship management (CRM) creating radical changes in the way companies interact with their customers. This has created completely new breeds of marketing models, but major progress has also taken place in existing types of marketing models. The HANDBOOK OF MARKETING DECISION MODELS presents the state of the art in marketing decision models, dealing with new modeling areas such as customer relationship management, customer value and online marketing, but also describes recent developments in other areas. In the category of marketing mix models, the latest models for advertising, sales promotions, sales management, and competition are dealt with. New developments are presented in consumer decision models, models for return on marketing, marketing management support systems, and in special techniques such as time series and neural nets. Not only are the most recent models discussed, but the book also pays attention to the implementation of marketing models in companies and to applications in specific industries.
Download or read book Essays on Structural Analysis of Retail Competition Using Classical and Bayesian Estimation Techniques written by Sriraman Venkataraman and published by . This book was released on 2005 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Handbook of Industrial Organization written by Mark Armstrong and published by Elsevier. This book was released on 2007-10-05 with total page 943 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is Volume 3 of the Handbook of Industrial Organization series (HIO). Volumes 1 & 2 published simultaneously in 1989 and many of the chapters were widely cited and appeared on graduate reading lists. Since the first volumes published, the field of industrial organization has continued to evolve and this volume fills the gaps. While the first two volumes of HIO contain much more discussion of the theoretical literature than of the empirical literature, it was representative of the field at that time. Since then, the empirical literature has flourished, while the theoretical literature has continued to grow, and this new volume reflects that change of emphasis. Thie volume is an excellent reference and teaching supplement for industrial organization or industrial economics, the microeconomics field that focuses on business behavior and its implications for both market structures and processes, and for related public policies. *Part of the renowned Handbooks in Economics series *Chapters are contributed by some of the leading experts in their fields *A source, reference and teaching supplement for industrial organizations or industrial economists
Download or read book Competitive Environment Business Strategy and Organization Structure written by Masoud Hemmasi and published by . This book was released on 1983 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Competitive Environment Business Strategy and Organization Structure written by Masoud Hemmasi and published by . This book was released on 1983 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book New Empirical Industrial Organization the Food System written by Harry Mason Kaiser and published by Peter Lang. This book was released on 2006 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: Textbook
Download or read book The Cornell School of Hotel Administration Handbook of Applied Hospitality Strategy written by Cathy A. Enz and published by SAGE. This book was released on 2010-07-14 with total page 1081 pages. Available in PDF, EPUB and Kindle. Book excerpt: This state-of-the-art handbook approaches the topics of hospitality strategy with an emphasis on immediate application of ideas to current practice. Top hospitality scholars make original contributions with the inclusion of senior level executives input, insights and current best practices. By incorporating the latest research and thinking on various strategic topics with the commentary and insights of successful executives this handbook blends cutting edge ideas and comprehensive reviews of the subject with innovative illustrations and examples from practice. The strength of the handbook is its combination of academic rigour and hospitality application. The handbook will have a clear reference orientation and focus on key topical issues and problem of interest to practitioners and advanced students of hospitality strategy.
Download or read book Competitive Strategy written by Michael E. Porter and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Structural Analysis of Historical Constructions 2 Volume Set written by Claudio Modena and published by CRC Press. This book was released on 2018-10-30 with total page 1466 pages. Available in PDF, EPUB and Kindle. Book excerpt: Structural Analysis of Historical Constructions contains about 160 papers that were presented at the IV International Seminar on Structural Analysis of Historical Constructions that was held from 10 to 13 November, 2004 in Padova Italy. Following publications of previous seminars that were organized in Barcelona, Spain (1995 and 1998) and Guimarães, Portugal (2001), state-of-the-art information is presented in these two volumes on the preservation, protection, and restoration of historical constructions, both comprising monumental structures and complete city centers. These two proceedings volumes are devoted to the possibilities of numerical and experimental techniques in the maintenance of historical structures. In this respect, the papers, originating from over 30 countries, are subdivided in the following areas: Historical aspects and general methodology, Materials and laboratory testing, Non-destructive testing and inspection techniques, Dynamic behavior and structural monitoring, Analytical and numerical approaches, Consolidation and strengthening techniques, Historical timber and metal structures, Seismic analysis and vulnerability assessment, Seismic strengthening and innovative systems, Case studies. Structural Analysis of Historical Constructions is a valuable source of information for scientists and practitioners working on structure-related issues of historical constructions
Download or read book Handbook of Marketing Analytics written by Natalie Mizik and published by Edward Elgar Publishing. This book was released on 2018 with total page 713 pages. Available in PDF, EPUB and Kindle. Book excerpt: Marketing Science contributes significantly to the development and validation of analytical tools with a wide range of applications in business, public policy and litigation support. The Handbook of Marketing Analytics showcases the analytical methods used in marketing and their high-impact real-life applications. Fourteen chapters provide an overview of specific marketing analytic methods in some technical detail and 22 case studies present thorough examples of the use of each method in marketing management, public policy, and litigation support. All contributing authors are recognized authorities in their area of specialty.
