Create an account
a product or service that an organization's customers place a greater value on than similar offerings from a competitor
First mover advantage
occurs when an organization can significantly impact its market share by being first to market with a competitive advantage
the acquisition and analysis of events and trends in the environment external to an organization
5 Forces of the Five Forces Model
Buyer Power, Supplier Power, Threat of substitute products or services, threat of new entrants, rivalry among existing competitors
High when buyers have many choices of whom to buy from and low when their choices are few
rewards customers based on the amount of business they do with a particular organizaiton
high when buyers have few choices of whom to buy from and low when their choices are many
consists of all parties involved, directly or indirectly, in the procurement of a product or raw material
an Internet based service that brings together many buyers and sellers
a B2B marketplace in which a single buyers posts its needs and then opens the bidding to any supplier who would care to bid
auction format in which increasingly lower bids are solicited from organizations willing to supply the desired product or service at an increasingly lower price
threat of substitute products or services
high when there are many alternatives to a product or service and low when there are few alternatives from which to choose
threat of new entrants
high when it is easy for competitors to enter a market and low when there are significant entry barriers to entering a market
product or service feature that customers have come to expect from organizations in a particular industry and must be offered by an entering organization to compete and survive
rivalry among existing competitors
high when competition is fierce in a market and low when competition is more complacent
a standardized set of activities that accomplish a specific task, such as processing a customer's order
Please allow access to your computer’s microphone to use Voice Recording.
Having trouble? Click here for help.
We can’t access your microphone!
Click the icon above to update your browser permissions and try again
Reload the page to try again!Reload
Press Cmd-0 to reset your zoom
Press Ctrl-0 to reset your zoom
It looks like your browser might be zoomed in or out. Your browser needs to be zoomed to a normal size to record audio.
Please upgrade Flash or install Chrome
to use Voice Recording.
For more help, see our troubleshooting page.
Your microphone is muted
For help fixing this issue, see this FAQ.
Star this term
You can study starred terms together