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s) 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 11 WHAT ARE THE COMPETITIVE STRATEGIES? Contrary to expectations the number of ways to define petitive strategy are limited ? ? Traditional approaches New perspectives 169。s in business to do) ? ? ? Some anizations “can do,” others “can’t do” Competitive advantage implies gaining the edge on others Organizations strive for sustainable petitive advantage and set the stage for petition—intense, moderate, or mild 169。 me Group E Avon Mary Kay Origins The Body Shop Group F Elizabeth Arden Chanel Christian Dior 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 6 Who Are Our Competitors? Industry and Market Approaches to Defining Competitors Figure 62 Industry Same ProductService Number of Sellers Degree of Differentiation One Low Pure Monopoly Few Low Pure Oligopoly Few Medium Differentiated Oligopoly Many High Monopolistic Competition Many None Pure Competition Market Customer Needs 169。 Prentice Hall, 2023 End Show 6 4 WHAT IS COMPETITIVE ADVANTAGE AND HOW DO W