Competitive Strategies
Added value, product quality, product innovation, and customer satisfaction capacity create a competitive advantage when a company utilizes this type of competitive strategy
What is Product Differentiation?
These aspects of Accor's brand makes them stand out against other hotels
What are their different types of hotels, focusing on different target groups to provide different benefits like attractive design and affordability?
This type of growth assumes the company invests in its own structure with the aim to grow and/or develop by building new facilities, hiring new personnel, etc.
What is Organic Growth?
These are the four main types of growth directions
What are expansion, diversification, restructuring of the business portfolio, and internationalization?
Innovation protection that grants exclusive rights over products, processes, substances, and designs
What are Patents?
Defined by appealing to price sensitive buyers, have lower costs than rivals, but cannot be viewed by consumers as offering little value
What is Cost Leaderhsip?
This Accor hotel chain is named similarly to a racing competition
What is F1 and is a regional brand in France?
The result of the merger or acquisition of an already established firm. In this way, the focal firm increases their size by incorporating the production capacity of the acquired firm
What is External Growth?
Abandonment is a branch of this type of growth direction
What is reconstruction of the business portfolio?
Basic/fundamental research and development is the _____ step in the Linear Innovation Process
What is the First Step?
Product Differentiation and Focused Differentiation use this as a source for competitive advantage
What is added value?
The racing brand F1 stands for high-performance racing and the highest class of racing. For Accor's F1 brand, they focus on...
What is cost-leadership and the desire to be simple and practical?
The combination of two or more companies into a single entity, with the newly created company often taking on a new name (at least one legal entity disappears)
What is a Merger?
These are the two branches of market development
What are geographical and segment?
This type of innovation should be used by a company that will only profit from internal research and development
What is Closed Innovation?
Ikea uses the ______ competitive strategy with a _____ market scope to appeal to their customers
What are Best Cost Provider and Broad Market Scope?
Accor has multiple sub-brands with different designs and prices. These sub-brands focus on providing a luxury hotel experience
What are Sofitel Luxury, Pullman, The Sebel, and Thalassa Sea & Spa?
Combination in which one company purchases and absorbs the operations of another
What is an Acquisition?
This type of integration allows for both forwards and backwards integration
What is Vertical Integration?
This technological strategy is commanded by Apple in the smartphone industry
What is Leader Strategy?
This competitive strategy has a narrow market scope, uses efficiency as a source of competitive advantage, but currently has no real examples in the business world
What is Focused Cost-Leadership?
This brand of Accor focuses on providing luxury interior and branded products with a familiar feeling. It also uses these strategies to differentiate itself
What is Mama's Shelter, and they combine modern and classy design with high-level technical support. Additionally, they have homemade beauty products
This advantage of external growth can be defined as "increasing the market power"
What is Vertical Integration?
This occurs when a company becomes their own supplier
What is upstream movement?
Yellow Tail wines reduced this industry standard as part of their blue ocean strategy
What is the range and complexity of their wines?