Advanced Competitive Strategy from Coursera

What's inside

Syllabus

Maintaining your Customer Base

In this module we will look at strategies that can help us maintain our customer base. For this, we will take an analytical approach that helps us understand the point at which our customers will switch to a competitors and the amount of money a competitor is willing to spend to acquire our customers. Based on this understanding, we will derive applicable strategies that can help us lock in our customers strategically. We will do this by keeping in mind that also customers may apply their own strategies to avoid lock in and further, that our competitors will seek to apply strategies in the pursuit of making our customers theirs.

Determine your Prices Wisely

We will look at the benefits of price discrimination as a strategic tool that can help us to skim off our customer’s willingness to pay and increase our utility accordingly. We are then going to learn the different ways of aligning a price discrimination strategy with successful product design and the three different ways in which a price discrimination strategy can be formulated.

Keep Your Business Clean

In this module we will demonstrate that if you want to operate a business you have to keep in mind that there are some powerful external entities, so-called competition authorities, that highly value and safeguard competition. While this supports and opens up opportunities for your business if it is new or relatively small and would otherwise simply be crushed by larger incumbent firms – it can also put you in danger if you have already achieved a certain size, have acquired more market power are already in a rather powerful position.

Increase your Returns

In this module, we are going to discover two very important new concepts with which you can increase your business’s returns: Network effects and boundaries of the firm. We will find that considering these two concepts in formulating our business strategy can help us improve our strategy’s effectiveness and eventually increase our returns.

Strategies in Network Markets

We will build upon our knowledge from module 4 and look into competition in network markets, adoption rates and the advantage of critical mass. Following from this, we will learn why this is essential for reaching the point of critical mass. We will moreover discuss ways in which companies can raise the attention of potential consumers and reduce their perceived risk.

Achieve Growth with the Help of Partners

We will look at the trends, goals and processes of mergers and acquisitions, differentiate the two terms and examine external and internal factors that can hinder the process. We will also find out about the striking advantages that can make a successful merger or an acquisition worthwhile if you have identified the right match for your company and we will eventually learn about the process that is involved in real world M&A activities.

Grow Organically

In this special bonus module, we will discuss the relationship between profitability and growth on the one hand and the limitations that are faced by small companies on the other. We will learn what organic growth is and that it can be achieved by either protecting and building up our existing customer base and product lines, or by developing new products or markets – or, in turn, by diversifying our products portfolio. We will acknowledge and address external and internal limitations to growth and – as a final consideration – will look into the possibilities of international strategies for growth.

Final Exam

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Explores business practices, which is standard in industry

Develops strategic approaches to competition, which are core skills for business leaders

Taught by Tobias Kretschmer, who is recognized for their work in economic studies

Examines competitive strategy, which is highly relevant for business growth

Covers case studies, which adds color to other business courses

Advises students to take Competitive Strategy first, as a prerequisite

Reviews summary

Well-received advanced competitive strategy course

Learners say that Advanced Competitive Strategy is an engaging and informative course that is well-received by learners. According to students, the course has good content, useful reading material, and clear and interesting video lectures. Students especially appreciate the quirky style of the lectures and the real-world examples provided. Overall, learners say that this course is a great course for those who want to learn more about competitive strategy.

The exams are challenging, but they are fair and help learners to master the material.

"The quizzes and final exam are medium high level of difficulty with a lot of multiple choices."

"I had this challenge and determination to solve every piece and pass it, .... Cheers Up"

"Difficult but worth it. Congratulations to myself. Specialization up next..."

The course content is clear and easy to follow.

"I liked his way of teaching. Awesome and supercool."

"I loved the course, it was fun and interesting. Thanks to the easy language for understanding, study process went great!"

"Basic concepts explained easily."

The course material is practical and relevant to real-world business scenarios.

"It is a very interesting course. It is practical and bring into table real cases as examples"

"This course covers the major concepts of the high level competitive strategies used in all types of business and offers lots of insights."

"The learnings from this course have made me understand some of the organizational events that are currently taking place in the company I work for."

Professor Tobias Kretschmer is an excellent lecturer who explains concepts clearly and engagingly.

"The professor is clear on his explanations, with outstanding and engaging videos, and useful supporting material."

"Congratulations to Mr. Kretschmer and his staff for the course!"

"I thank Coursera and Tobias Kretschmer Sir of LMU for teaching me this course of strategy very professional teachers are offered in Coursera"

Some learners have requested that the course include more practical case studies.

"I don't think I learnt too much beyond course 1. I would request the professor to add more practical case studies."

"The course is highly theoretical and basic, through the exams are hard."

"I would like id there is as well some extra papers to read about the topic to get a deeper understanding for some of the topics"

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Advanced Competitive Strategy with these activities:

Review the concept of switching costs

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Review the concept of switching costs and how it affects customer retention to build a strong foundation for learning about maintaining your customer base.

Browse courses on Customer Retention

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Read the introductory section of the module on Maintaining your Customer Base.
Take notes on the key points about switching costs and their impact on customer retention.
Complete the practice exercises at the end of the section.

Practice calculating switching costs

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Engage in practice drills to solidify your understanding of calculating switching costs and its implications for strategic customer lock-ins.

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Gather data on customer churn rates, acquisition costs, and customer lifetime value.
Use the formula provided in the module to calculate switching costs for different customer segments.
Analyze the results and draw conclusions about the impact of switching costs on customer retention.

Mentor a junior student or peer on the fundamentals of competitive strategy

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Share your knowledge and skills by mentoring others, reinforcing your understanding of competitive strategy and enhancing your communication abilities.

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Identify a junior student or peer who is interested in learning about competitive strategy.
Establish regular meeting times to provide guidance and support.
Review key concepts and case studies together.

Five other activities

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Attend a workshop on price discrimination strategies

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Participate in a workshop to gain practical insights and real-world examples of effective price discrimination strategies.

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Identify workshops or industry events that focus on price discrimination strategies.
Register for and attend the workshop.
Actively participate in the workshop and take notes on key concepts and best practices.

Explore case studies on strategic customer lock-ins

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Examine real-world examples to deepen your understanding of how companies successfully implement strategic customer lock-ins.

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Identify case studies of companies that have successfully implemented strategic customer lock-ins.
Analyze the strategies used by these companies to lock in customers.
Evaluate the effectiveness of these strategies and identify key lessons learned.

Participate in a peer-led discussion group on mergers and acquisitions

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Engage in discussions with peers to exchange insights and perspectives on complex topics like mergers and acquisitions, deepening your understanding of the strategies involved.

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Identify a peer group or study buddy to collaborate with.
Establish regular meeting times to discuss key concepts and case studies.
Take turns leading the discussion and presenting your findings.
Critically analyze different perspectives and challenge each other's assumptions.

Develop a presentation on the legal and ethical implications of EU competition and US antitrust policies

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Create a comprehensive presentation to showcase your understanding of the legal and ethical boundaries of competition and antitrust laws, which will aid in your comprehension of competition in network markets.

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Research EU competition and US antitrust policies and their implications for businesses.
Identify case studies of companies that have faced legal challenges related to competition law.
Develop a presentation that outlines the key legal and ethical considerations for businesses in these markets.
Present your findings to your peers or a relevant audience.

Contribute to open-source projects related to network effects

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Make valuable contributions to open-source projects in the field of network effects to gain hands-on experience and expand your knowledge beyond the classroom.

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Identify open-source projects related to network effects.
Review the project documentation and codebase.
Identify areas where you can contribute your skills and knowledge.
Make a pull request to the project with your proposed changes.
Collaborate with other contributors to refine your work.

Career center

Learners who complete Advanced Competitive Strategy will develop knowledge and skills that may be useful to these careers:

Competitive Intelligence Analyst

A Competitive Intelligence Analyst is responsible for collecting and analyzing data about competitors. This course can help Competitive Intelligence Analysts build a strong foundation in competitive strategy, which is essential for understanding the competitive landscape and developing strategies that can help businesses achieve their competitive goals. The course covers topics such as competitive intelligence, industry analysis, and SWOT analysis, which are all essential for developing successful competitive intelligence strategies.

See salaries and explore the career path for Competitive Intelligence Analyst

Corporate Development Manager

A Corporate Development Manager is responsible for developing and executing corporate strategies. This course can help Corporate Development Managers build a strong foundation in competitive strategy, which is essential for developing effective strategies that can help businesses achieve their strategic goals. The course covers topics such as strategic planning, market analysis, and financial analysis, which are all essential for developing successful corporate strategies.

See salaries and explore the career path for Corporate Development Manager

Chief Executive Officer

A Chief Executive Officer is responsible for the overall management of a company. This course can help Chief Executive Officers build a strong foundation in competitive strategy, which is essential for developing effective strategies that can help businesses achieve their strategic goals. The course covers topics such as strategic planning, market analysis, and financial analysis, which are all essential for developing successful business strategies.

See salaries and explore the career path for Chief Executive Officer

Strategy Consultant

A Strategy Consultant is responsible for providing advice to businesses on how to achieve their strategic goals. This course can help Strategy Consultants build a strong foundation in competitive strategy, which is essential for developing effective strategies that can help businesses succeed. The course covers topics such as strategic planning, market analysis, and financial analysis, which are all essential for developing successful business strategies.

See salaries and explore the career path for Strategy Consultant

Chief Operating Officer

A Chief Operating Officer is responsible for the day-to-day operations of a company. This course can help Chief Operating Officers build a strong foundation in competitive strategy, which is essential for understanding the competitive landscape and developing strategies that can help businesses achieve their operational goals. The course covers topics such as operations management, process improvement, and supply chain management, which are all essential for developing successful operational strategies.

See salaries and explore the career path for Chief Operating Officer

Market Research Analyst

A Market Research Analyst is responsible for collecting and analyzing data about markets and customers. This course can help Market Research Analysts build a strong foundation in competitive strategy, which is essential for understanding the competitive landscape and developing strategies that can help businesses achieve their marketing goals. The course covers topics such as market research, customer segmentation, and competitive analysis, which are all essential for developing successful marketing strategies.

See salaries and explore the career path for Market Research Analyst

Chief Technology Officer

A Chief Technology Officer is responsible for the technology and innovation of a company. This course can help Chief Technology Officers build a strong foundation in competitive strategy, which is essential for understanding the competitive landscape and developing strategies that can help businesses achieve their technology goals. The course covers topics such as technology management, innovation management, and product development, which are all essential for developing successful technology strategies.

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Marketing Manager

A Marketing Manager is responsible for developing and executing marketing campaigns that promote a company's products or services. This course can help Marketing Managers build a strong foundation in competitive strategy, which is essential for developing effective marketing campaigns that can reach and engage target audiences. The course covers topics such as customer behavior, market analysis, and pricing strategies, which are all essential for developing successful marketing campaigns.

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Chief Financial Officer

A Chief Financial Officer is responsible for the financial management of a company. This course can help Chief Financial Officers build a strong foundation in competitive strategy, which is essential for understanding the competitive landscape and developing strategies that can help businesses achieve their financial goals. The course covers topics such as financial analysis, budgeting, and capital raising, which are all essential for developing successful financial strategies.

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Private Equity Investor

A Private Equity Investor is responsible for investing in private companies. This course can help Private Equity Investors build a strong foundation in competitive strategy, which is essential for understanding the competitive landscape and developing strategies that can help businesses achieve their growth goals. The course covers topics such as private equity investing, venture capital, and leveraged buyouts, which are all essential for developing successful private equity investment strategies.

See salaries and explore the career path for Private Equity Investor

Chief Marketing Officer

A Chief Marketing Officer is responsible for the marketing and sales of a company's products or services. This course can help Chief Marketing Officers build a strong foundation in competitive strategy, which is essential for developing effective marketing campaigns that can reach and engage target audiences. The course covers topics such as marketing management, brand management, and digital marketing, which are all essential for developing successful marketing strategies.

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Business Analyst

A Business Analyst is responsible for analyzing business processes and identifying opportunities for improvement. This course can help Business Analysts build a strong foundation in competitive strategy, which is essential for understanding the competitive landscape and developing strategies that can help businesses achieve their goals. The course covers topics such as industry analysis, competitive analysis, and SWOT analysis, which are all essential for developing effective business strategies.

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Product Manager

A Product Manager is responsible for managing the development and launch of new products. This course can help Product Managers build a strong foundation in competitive strategy, which is essential for developing products that meet the needs of target markets. The course covers topics such as product development, market research, and pricing strategies, which are all essential for developing successful products.

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Investment Banker

An Investment Banker is responsible for providing advice to businesses on mergers and acquisitions, capital raising, and other financial transactions. This course can help Investment Bankers build a strong foundation in competitive strategy, which is essential for understanding the competitive landscape and developing strategies that can help businesses achieve their financial goals. The course covers topics such as financial analysis, valuation, and mergers and acquisitions, which are all essential for developing successful financial strategies.

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Venture Capitalist

A Venture Capitalist is responsible for investing in early-stage companies. This course can help Venture Capitalists build a strong foundation in competitive strategy, which is essential for understanding the competitive landscape and developing strategies that can help businesses achieve their growth goals. The course covers topics such as venture capital investing, seed funding, and Series A funding, which are all essential for developing successful venture capital investment strategies.

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