Goods or services in standard-cycle markets reflect:

First movers can gain a sustained competitive advantage when they reduce their costs through reverse engineering

Firms with high market commonality and highly similar resources are direct and mutually acknowledged competitors

Chelsea Milling Company makes Jiffy packaged baking mixes.  It was established in 1930.  It has never spent one cent on advertising, which is one reason it is able to pursue a(n) __________ strategy.

Network cooperative strategies among Silicon Valley firms have been successful, in part, because they are geographically close together

A business-level strategy describes what a firm does to create, deliver, and capture value for its stakeholders

A company selling diapers knows the market is for people with infants and toddlers.  However, within that segment, it can further divide the market by a demographic factor like:

Strategic fit among the many activities in the value chain is critical for competitive advantage because it is more difficult for a competitor to match a configuration of integrated activities than to imitate a particular activity, such as sales promotion or a process technology

A second mover:

Certain regulatory changes (such as antitrust regulation and tax laws) create incentives or disincentives for diversification that: