Generic Competive Strategies
Not what you're looking for?
Could you assist me with explaining the Generic Competitive Strategies below and which one is better to utilize.
Low cost provider
Best cost provider
Focus strategy based on lost cost
Focus strategy based on differentiation
A broad differentiation strategy
Purchase this Solution
Solution Summary
This detailed solution explains the generic competitive strategies:
Low cost provider
Best cost provider
Focus strategy based on lost cost
Focus strategy based on differentiation
and provides examples of each.Includes APA formatted references.
Solution Preview
There are five basic generic competitive strategies. They are:
Low cost provider's strategy is to sell products at the lowest price possible to attract customers. This can be used as a way to attract more customers (as in lost leaders) or as a strategy based on selling more products for less (like in the club stores). It involves earning less margin but enjoying higher sales volumes. Typically an organization must have the benefits of economies of scale to deploy this strategy (otherwise losses will occur, generally).
Best cost provider aims to give customers more value for their money by offering low prices plus upscale products that compete with those products offered at higher prices. An example ...
Education
- BA, University of Southern California
- MSS, United States Sports Academy
- Ed.D, Boise State University
Recent Feedback
- "Thk u"
- "Thank you!:)"
- "Thank you!:)"
- "Thank you!:)"
- "Thank you!:)"
Purchase this Solution
Free BrainMass Quizzes
Marketing Management Philosophies Quiz
A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.
Paradigms and Frameworks of Management Research
This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.
Transformational Leadership
This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.
Marketing Research and Forecasting
The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.
Situational Leadership
This quiz will help you better understand Situational Leadership and its theories.