The term compete comes from the Latin competere meaning “to strive together.”
Three competitive conditions a business may find itself in are: leader, challenger, or spectator.
The Leader Strategies Matrix provides options for protecting one’s business and systematically exploring new routes to profitable growth.
The Norm Deviation Matrix provides challengers with potential avenues for creating real differentiated value within an established market by examining tacit market rules that can be changed to their advantage.
The Challenger Strategies Matrix provides options for taking customers from leaders or converting non-users to users.
Competitive advantage is the ability to deliver superior value based on differentiation rooted in capabilities.
The Competitive Advantage Profile is a tool for assessing which player in the market possesses competitive advantage and why.
The Trade-Off Zone is a visual representation of the trade-offs, or lack of trade-offs, being made in a market.
Indirect competitors for profits include customers, suppliers, potential entrants, and producers of substitutes.
Intangible competition includes affinity for the status quo, apathy, and priorities.