Chapter 2 match the word with definition
1. Additive manufacturing
(3D printing)
2. Backward integration - a
3. Bargaining power of
buyers - b
4. Bargaining power of
suppliers - c
5. Complementor - d
6. Conduct - n
7. Cost leadership - f
8. Differentiation - p
9. Dominance - i
10. Duopoly - j
11. Economies of scale - g
12. Entry barrier - h
13. Excess capacity - m
14. Five forces framework - e
15. Flexible manufacturing
technology
16. Focus – o
17. Forward integration - k
18. Generic strategies - l
19. Incumbents - u
a) (Acquiring and owning upstream assets.)
b) (The ability of buyers to reduce prices and/or demand quality
improvement of goods and services.)
c) (The ability of suppliers to raise prices and/or reduce the
quality of goods and services.)
d) (A firm that sells products that add value to the products of a
focal industry.)
e) (A framework governing the competitiveness of an industry
proposed by Michael Porter. The five forces are (1) the
intensity of rivalry among competitors, (2) the threat of
potential entry, (3) the bargaining power of suppliers, (4) the
bargaining power of buyers, and (5) the threat of
substitutes.)
f) (A competitive strategy that centers on competing on low
costs and prices.)
g) (Reduction in per unit costs by increasing the scale of
production.)
h) (The industry structures that increase the costs of entry.)
i) (A situation whereby the market leader has a very large
market share.)
j) (A special case of oligopoly that has only two players.)
k) (Acquiring and owning downstream assets.)
l) (Strategies intended to strengthen the focal firm’s position
relative to
the five competitive forces, including (1) cost leadership, (2)
differentiation, and (3) focus.)
m) (Additional production capacity currently underutilized or not
utilized.)
n) (Firm actions such as product differentiation.)
o) (A strategy that serves the needs of a particular segment or
niche of an industry.)
p) (A strategy that focuses on how to deliver products that
customers perceive as valuable and different.)
q) (A group of firms producing products (goods and/or services)
that are similar to each other.)
r) (Ways to position a firm within an industry in order to
minimize the threats presented by the five forces.)
s) (Mass produced but customized products.)
20. (industrial economics) - v
21. Industry - q
22. Industry positioning - r
23. Mass customization - s
24. Mobility barrier - t
25. Monopoly - x
26. Network externalities - y
27. Non-scale-based
advantage - w
28. Oligopoly - z
29. Perfect competition - aa
30. Performance - bb
31. Product differentiation - hh
32. Product proliferation - cc
33. Scale-based advantage - dd
34. Strategic group - ii
35. Structure - ee
36. Structure-conduct-
performance (SCP) model -
ff
37. Substitute - gg
t) (Within-industry differences that inhibit the movement
between strategic groups.)
u) (Current members of an industry that compete against each
other.)
v) (A branch of economics that seeks to better understand how
firms in an industry compete and then how to regulate
them.)
w) (Low-cost advantage that is not derived from the
economies of scale.)
x) (A situation whereby only one firm provides the goods
and/or services for an industry.)
y) (The value a user derives from a product increases with the
number (or the network) of other users of the same
product.)
z) (A situation whereby a few firms control an industry.)
aa) (A competitive situation in which price is set by the “market,”
all firms are price takers, and entries and exits are relatively
easy.)
bb)(The result of firm conduct.)
cc) (Efforts to fill product space in a manner that leaves little
“unmet demand” for potential entrants.)
dd)Advantage derived from economies of scale (the more a firm
produces some products, the lower the unit costs become).)
ee)(Structural attributes of an industry such as the costs of
entry/exit.)
ff) (An industrial organization economics model that suggests
industry structure determines firm conduct (strategy), which
in turn determines firm performance.)
gg) (Product of different industries that satisfy customer needs
currently met by the focal industry.)
hh)(The uniqueness of products that customers value.)
ii) (A group of firms within a broad industry.)
jj)
kk)