We all want to fight off competition, to win and hold on to the customers, staff and other scarce resources we need - especially if that weakens our rivals! It turns out that just three standard structures explain every competitive situation and, as before, you can do much more than simply describe the principles - you can quantify and model exactly how competition plays out over time. Armed with these models, you can make much better decisions on pricing, marketing, customer support and so on, to get much better results - even driving competitors out of your way. Similar models also capture competition for staff, intermediaries and other critical resources.
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Topics covered in this class are:
- 7.1 How Type-1 competition for new customers works **
- 7.2 How Type-2 competition works: stealing existing customers
- 7.3 How Type-3 competition models capture sales from shared customers
- 7.4 How competition works in durables markets
- 7.5 Modeling cases where competition-types operate together
- 7.6 Competing for staff
- 7.7 Dealing with multiple competitors
** This segment is included in the "Getting started" course.
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