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How did Panasonic overtake Philips? a Tailoring products to local markets b Differentiate products for different geographies/regions c. Breakthroughtechnologies d Standardized and reliable products at a good price What are the major problems/challenges that each firm faced? What additional steps should each firm take to strengthen their respective competitive positions? - Companies should follow Samsung's strategy of creating "best value" by differentiating where you have to (e.g., product design) but standardizing in all other activities (e.g., R\&D, components, etc.) b Panasonic lacked economies of scale because of how decentralized they were, so centralization is essential c Philips has scarce capabilities in terms of R\&D so they should create additional labs in each major country/region that allowed for cross fertilization of ideas Panasonic has scarce efficiency so they should increase the standardization of their products