Answered step by step
Verified Expert Solution
Question
1 Approved Answer
In mapping the positions of strategic groups in the industry's overall market space, Copyright by Glo-Bus Software, Inc. Copying, distributing, or 3rd party website
In mapping the positions of strategic groups in the industry's overall market space, Copyright by Glo-Bus Software, Inc. Copying, distributing, or 3rd party website posting isexpressly prohibded and constitutes copyright violation O it is normally best to use geographic coverage (local, regional, national, global) as the variable for the vertical axis and product-line breadth (wide, narrow) as the variable for the horizontal axis. one strategic variable and one financial variable should be used as axes for the map because this avoids selecting variables for the axes that are highly correlated. O using price as the variable for the vertical axis and product quality as the variable for the horizontal axis tends to produce the most revealing type of strategic group map. O the variables chosen as axes should be ones where big differences exist among the rivals-- when rivals differ on both variables, the locations of the rivals will be scattered, thus showing how they are positioned differently. O it is important for the variables used as axes to be highly correlated.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started