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Chapter 3: The Competitive Market

Horizontales
One company that controls a market.
A business can achieve a sustainable competitive advantage by creating a ________ market.
A type of sustainable competitive advantage.
A market that has a large number of companies, each with the opportunity for some market control.
A method to achieve a non-sustainable competitive advantage.
Money left after paying expenses.
It is very important that a service business maintains a good __________.
A market that has a large number of small companies with no market control.
A market with a small number of large companies, each having substantial market control.
Type of marketing where a customer has strong brand loyalty.
A major reason people shop on the Internet.
Verticales
Type of competition between products that are not in the same category.
Offering a greater __________ is one way service businesses compete.
Specific types of products and the companies that make them
Where a product is sold.
Type of market where the government controls the economy.
Market categories that are broken down into more narrow sections.
When a consumer thinks of one brand first.
A competitive advantage where a company is able to hold on to it's customers in spite of competition.
The percentage one company's product take of the total market for that product.
Type of service which is performed to support the sale of a product.
Type of competition between produces that are in the same category.
Canada has this type of market.