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Competitive response and market evolution (RV of 2000/66/MKT)

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The objective of this chapter is to provide a framework for understanding the research that has been conducted on competitive response and market evolution and to indicate areas where research is needed to deepen our understanding of the subject area. Not surprisingly, the premise upon which this framework is based flows from the title of the chapter. There could easily have been two separate chapters; one on competitive responses and the other on market evolution. However, a primary contribution of research in this area is that these two topics are inextricably linked. One cannot properly review the research in one area without making significant if not germinal references to the other area. Accordingly, the authors review the contributions that academics in both business administration and economics have made in understanding the effects of competitive responses on market evolution and the impact of market evolution on competitive responses. The framework used for this review also helps in the identification of new research directions.

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