Select an industry like a large oil company or Trader Joe's. Identify within that industry companies that appear to be employing each of the strategies listed below. Explain and justify your classifications. Reference
• Low-cost provider
• Broad differentiation
• Best-cost provider
• Focus strategy
Low cost provider: Costco and Walmart are examples. Both retailers work at offering more to the customer for less. Walmart is able to achieve low-cost leadership by having a high market share and a strategy committed to low prices. The entire chain is strategically operated to offer customers the best prices. In order to do this, the company must decide on the right product mix and source products at best prices (eliminating excess packaging, buying unique product sizes to get class of trade discounts. This includes selecting products that will appeal to a broad market. Walmart buyers are infamous for being able to negotiate well. The company then distributes the products efficiently. Costs are further ...
This solution selects an industry and then identifies companies within the industry that are I employing each of the strategies listed below.
· Low-cost provider
· Broad differentiation
· Best-cost provider
· Focus strategy
The solution explains and justifies the classifications and includes APA formatted references.