Describe the dynamic process model for managing marketplace competition

Using the market-approach, what constitutes a competitor?

What are the 4 key questions to pose w.r.t the competitive landscape?

What are the possible marketplace positions?

What are the sources of competitive advantages?

Profit pool definition?

When analysing competitors, what are the 3 variables that companies should keep in mind?

What does PARTS stand for?
What is its relevance to marketing?

Elaborate on PARTS

4 key takeaways re competitor analysis?