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rofits ? Product characteristics ? Any other relevant strategic factor 169。169。 Prentice Hall, 2023 End Show 6 8 Who Are Our Competitors? Strategic Groups: Cosmetics Industry Figure 63 Distribution Strategy Selective Department Store Mass Discount Price Strategy Low Medium High Group A Maybelline Cover Girl Almay Sally Hansen Bonne Bell Wet ’n Wild Group B Revlon Ultima Prescriptives Max Factor Coty Group C Est233。 Prentice Hall, 2023 End Show 6 13 Traditional Approaches to Defining Competitive Strategy Table 62 Characteristics of Miles and Snow’s Adaptive (Competitive) Strategies Strategy Characteristics (continued) Analyzer ? ? ? Reactor ? ? ? ? Strategy of analysis and imitation Thoroughly analyzes new business ideas (products, services, markets) before deciding to jump in Watches for and copies the promising and successful ideas of prospectors Lacks coherent strategic plan Simply reacts to environmental changes Makes strategic adjustments only when finally forced to do so Unable to respond quickly to environmental changes because resourcescapabilities are lacking or are not developed or exploited properly 169。 Prentice Hall, 2023 End Show 6 19 New Perspectives on Competitive Strategy Mintzberg’s Generic Competitive Strategies Figure 67 Differentiation Undifferentiated By Price By Marketing Image By Product Design By Product Quality By Product Support 169。 Prentice Hall, 2023 End Show 6 21 IMPLEMENTING, EVALUATING, AND CHANGING COMPETITIVE STRATEGY Responsibility of managing strategically doesn’t stop after implementation ? ? Evaluation of petitive strategy assesses: ? Various functional areas ? Activities performed in those areas Change when evaluation s