Cross-market retaliation - If a firm attacks in one market, its rivals have the ability to engage it in its other markets, Price leader - Firm that has dominant market share and sets "acceptable" prices and margins in the industry, Prisoners' dilemma - In game theory, a type of game in which the outcome depends on two parties deciding to cooperate or to defect, Mutual forbearance - Multi market firms respect their rivals' spheres of influence in certain markets, and their rivals reciprocate, leading to tacit collusion, Competitor Analysis - The process of anticipating rivals' actions in order to both revise a firm's plan and prepare to deal with rivals' response, Game Theory - A theory that studies the interactions between two parties that compete and or cooperate with each other, Tacit collusion - The result of firms indirectly coordinating actions by signaling their intention to reduce and maintain pricing above competitive level, Concentration ratio - The percentage of total industry sales accounted for by the top four, eight, or twenty firms, Collusion - Collective attempts to reduce competition, Multimarket Competition - Firms engage the same rivals in multiple markets, Cartel - An entity that engages in output and price fixing involving multiple competitors,

MANAGING GLOBAL COMPETITIVE DYNAMICS

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