GROUP-5-MKT-515.pptx
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This document presents an overview of technology and competitive advantage. It discusses how technology affects competitive advantage through cost positioning and differentiation. It also examines how technology impacts industry structure, first-mover advantages and disadvantages, licensing strategies, technological evolution, and how to formulate a technological strategy. The document contains information on a presentation by Group-05 on this topic.
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A.DEFINE THE INDUSTRY.
The boundaries for an industry analysis are determined by the markets and products that best describe the domain of the industry. Once
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For each product-market segment, an industry analysis will describe the "five-forces" of competition. The five forces discussed briefly
below predict the long run profitability of an industry and are an important first step in analyzing the industry once it has been identified.
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compete. The size and importance of customers influences their power to negotiate prices and terms that reduce the overall
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development and influence the level of competition to be found in the industry.
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products and services that attempts to provide higher value to the product-market segments they address. Strategies can be
designed to provide combinations of higher performance, more fashion and features, higher quality, or lower price. Increased
rivalry always leads to price or service competition that reduces the profitability of the industry.
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Please go to the next slide.
Objectives
Upon completion of this lesson, you will be able to:
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GROUP-5-MKT-515.pptx
- 1. Welcome To Our Presentation ON Technology and Competitive Advantage Presented by Group-05
- 2. Identity of Group Members At a Glance SL. No. Name Roll Number 1 Farhad Hossain 1625001 2 Aminul Islam 1625005 3 Md. Atikur Rahman 1625008 4 Abdullah Al Mamun 1625015 5 Naharul Alam 1625021 6 Md. Faruk Hossain 1625022 7 Noyan Hossain 1625058 8 Md. Sakhawat Hossain 1625078
- 3. OVERVIEW OF THIS CHAPTER (Chapter-05: Technology and Competitive Advantage) TECHNOLOGYAND COMPETITION Technology and The Value Chain Technology and Competitive Advantage Technology and Industry Structure TECHNOLOGY STRATEGY The Choice of Technologies to Develop Technological Leadership or Followership Licensing of Technology TECHNOLOGICAL EVOLUTION Continuous Versus Discontinuous Technological Evolution Forecasting Technological Evolution FORMULATING TECHNOLOGICAL STRATEGY
- 4. Technology and Competition Technology: Technology is the result of accumulated knowledge and the application of skills, methods, and processes used in industrial production and scientific research. Competition: Competition is the rivalry between companies selling similar products and services with the goal of achieving revenue, profit, and market share growth.
- 5. Technology and The Value Chain A value chain is a concept describing the full chain of a business's activities in the creation of a product or service -- from the initial reception of materials all the way through its delivery to market, and everything in between.
- 6. Technology and Competitive Advantage Technology affects competitive advantage if it has a significant role in determining relative cost position or differentiation. Cost Positioning: A relative cost position is a detailed analysis that includes the production capacity and cost positions of all competing companies in the economic marketplace. Business owners use technology to create a chart indicating which companies have the lowest and highest relative cost position in the market. For example, Rolax, iphone follows the higher cost position. Differentiation: On the other hand differentiation is also affected by technological advances. It helps to understand the market clearly and find out the new market opportunities and perfect timing to enter those markets. For example, Xiomi brand follows this strategy.
- 7. The Benefits of Using Technology as a Competitive Advantage Real insight, real responsiveness Competitive pricing, accurate quoting Work anywhere, anytime Online access & better service Tests of a Desirable Technological Change Technological Change itself lowers cost or enhances differentiation Technological change shifts cost or uniqueness drivers Technological change improves industry structure
- 8. Technology and Industry Structure The potential effect of technological change on industry structure means that a firm cannot set a technology strategy without considering the structural impacts. Technology And Entry Barriers Technology And Buyer Power Technology And Supplier Power Technology And Substitution Technology And Rivalry
- 9. First-Mover Advantages Reputation Preempting a Positioning Switching Costs Channel Selection Institutional barriers against imitation First-Mover Disadvantages Pioneering Costs Demand Uncertainty Technological Discontinuities Changes in Buyer Needs Low-cost Imitation
- 10. Licensing of Technology Technology licensing is a contractual arrangement in which the licenser’s patents, trademarks, service marks, copyrights, trade secrets, or other intellectual property may be sold or made available to a licensee; compensation is negotiated in advance between the parties. When should a firm license? If technology is a source of competitive advantage, a firm must treat licensing other firms as a risky step that should be taken only under special conditions. Licensing fees are rarely large enough to offset a loss of competitive advantage. However, awarding licenses may be strategically desirable under several circumstances: Inability to Exploit the Technology Tapping Unavailable Markets Rapidly Standardizing the Technology Poor Industry Structure Creating Good Competitors
- 11. Pitfalls in licensing Firms often hurt rather than help their competitive position by awarding licenses. The two most common pitfalls in licensing are: to create competitors unnecessarily in the process, and to give away a firm's competitive advantage for a small royalty fee.
- 12. Technological Evolution Technological evolution is a theory of the radical transformation of society through technological development. Technological evolution in an industry results from the interaction of several forces: Scale change Learning Uncertainty reduction and imitation Technology diffusion Diminishing returns to technological innovation
- 13. Formulating Technological Strategy Identify all the distinct technologies and sub-technologies. Determine the likely path of change of key technologies. Assess a firm's relative capabilities. Select a technology strategy that reinforces the firm's overall competitive strategy. Reinforce business unit technology strategies at the corporate level.