Identify and compare three types of rivalries and how they impact strategic management finance.

Expert Solution

The three types of rivalries are

1. Developing potential customers.

2. Capturing rivals' customers.

3. Competing for sales to shared customers.

Type 1 rivalry is developing potential customers. This could be happen if there in new product and when it is hard to switch.

Example - Some customers passing a store choose to come in and continue to use it regularly, whereas other start using the competitor.

Type 2 rivalry ii capturing rivals' s customers. This could be happen whenno new customers emerge and has to buy from only one supplier.

Ex- Established customers of store may become dissatisfied with the value and switch to the competitor.

Type 3 rivalry is competing for sales to shared customers. This could be happen when no new customers emerge, all customers are disloyal so they switch purchases constantly between suppliers.

Ex- Some customers choose to use both stores. So capturing a major portion of the store visit made by the disloyal customers.

Impact of rivalries on Strategic Management finance -

1. Rivalries affects all types of strategies.

2. Rivalries has the strongest influence on the firm's business level strategies.

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