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- W3134898655 abstract "This paper presents an examination of an incumbent’s repositioning strategy in response to new entry. We use a Hotelling model consisting of an incumbent and an entrant. After the entrant determines its entry position in the linear market, the incumbent can reposition while incurring some repositioning cost. The entrant is allowed to be either superior or inferior to the incumbent in terms of product quality. High quality of a firm’s product is assumed to increase the willingness to pay of consumers not only for its own product, but also for rivals ’ products, depending on the degree of product differentiation. We show that the equilibrium (re)positioning strategies are classified into three types: (i) the no-reposition equilibrium, by which the incumbent stays at its original position; (ii) the reposition-away equilibrium, by which the incumbent repositions its location away from the entrant; and (iii) the reposition-closer equilibrium, by which the incumbent gets closer to the entrant. The no-reposition equilibrium arises when the incumbent repositioning cost is high. The reposition-away (reposition-closer) equilibrium is more likely to occur when the repositioning cost is sufficiently low and the incumbent (entrant) is stronger. Additionally, we demonstrate that, as the quality difference widens, irrespective of whether the incumbent is superior or inferior to the entrant, the stronger firm becomes crowded out of the center of the market, whereas the weaker one is more likely to win the dominant position. Therefore, greater ex ante advantages are not necessarily beneficial to the superior firm when considering strategic (re)positioning perspectives." @default.
- W3134898655 created "2021-03-15" @default.
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- W3134898655 date "2020-01-01" @default.
- W3134898655 modified "2023-09-25" @default.
- W3134898655 title "Incumbent Repositioning with Performance Difference" @default.
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- W3134898655 doi "https://doi.org/10.2139/ssrn.3654651" @default.
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