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Characteristics of Generic Marketing Strategies

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Discuss the characteristics of each generic marketing strategy; synthesize the characteristics and assess how an organization determines which strategy(ies) to implement.

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Generic Marketing Strategies:

Competitive businesses within the marketplace employ different strategies to ensure their success against the competitors available. There are three main generic marketing strategies which business should not overlook in the cases where they are marketing their commodities to the respective target group. The purpose of this document is to provide an overview of the characteristics of the three generic strategies. In addition, an assessment of the manner in which an organization determines the right strategy to implement is also discussed.

Porter identified three generic strategies such as cost leadership, differentiation, and focus strategies which could be applied within the context of business marketing. The three strategies are not dependent of a firm or an industry hence the term 'generic'. Several characteristics are associated to each of the generic strategies identified (Gur?u, ...

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The solution discusses the characteristics of generic marketing strategies.

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Application of the Porter Generic Strategy

Conduct a strategic analysis of the Kraft Foods Group. Identify the primary business strategy employed by the Kraft Foods Group. You will also be providing a critical analysis evaluating that strategy in the context of the strengths, weaknesses, opportunities, and threats.

Respond to the following:
1. Which of the four generic (Porter) strategies does the Kraft Foods Group follow, and how do you know?

2. Integrate the strategy you've identified above with the strengths, weaknesses, opportunities, and threats you identified in Modules 2 and 3. Doing so should give you some specific actions the company is taking relative to its strengths, weaknesses, opportunities, and threats. These actions are referred to as "strategic choices." Do the Kraft Foods Group's strategic choices align with the firm's generic strategy? If not, what are the points of disconnect? Think critically about this step, as no company achieves perfect alignment of its strengths, weaknesses, opportunities, and threats with its chosen strategy. It is your job to uncover the discrepancies and problems.

3. How can the Kraft Foods Group leverage its strengths and shore up its weaknesses by altering its strategic choices? How can the company take advantage of environmental opportunities and minimize environmental threats by altering its strategic choices? Be specific.

4. Complete the paper by commenting on how your view of the Kraft Foods Group's vision and mission has changed or has been reconfirmed by this process of strategic analysis. Would you make any suggestions to revise the company's mission or vision statements, or any of its goals/objectives?

5. Consider the Case as a formal business report that you are developing for the Board of Directors and CEO as the Kraft Foods Group's consultant. This is a professional document. Follow the format below: ◦Executive summary: This is a synopsis of the main points, conclusions, and recommendations made in the longer report. If you would like a refresher on writing an executive summary, check this website: http://www.highendfinance.com/CommercialLoans/Docs/07-4%20ES%20Guidelines.doc

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