Explore BrainMass
Share

Porter's Generic Strategies 3-5

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

Strategy 3: Low-Cost Provider

Definition: Striving to achieve costs than rivals and appealing to a broad spectrum of customers, usually by under pricing rivals.

Strategy 4: Broad Differentiation
Definition: Seeking to differentiate the company's product offering from rivals' in ways that will appeal to a broad spectrum of buyers.

Strategy 5: Focused Low-Cost
Definition: Concentrating on a narrow buyer segment and outcompeting rivals by having lower costs than rivals and thus being able to serve niche members at a lower price.

© BrainMass Inc. brainmass.com October 25, 2018, 9:34 am ad1c9bdddf
https://brainmass.com/business/strategy-and-business-analysis/generic-strategies-focused-low-cost-provider-broad-differentiation-578585

Solution Preview

Low cost strategy
In low cost strategy, a company keeps the cost of products or services low and yet provides basic features that are considered essential by buyers. Examples of companies following low cost strategy are Wal-Mart, Southwest Airlines, and Tesco. These companies have successfully eliminated unnecessary costs and achieved economies of scale to enjoy high profits. Cost leadership is successful in a market where customers are price sensitive. To succeed in cost leadership, firms need to have strengths such as:
• Skills and expertise in manufacturing process engineering
• Efficient distribution channels
• Access to ...

Solution Summary

The document has details of 3 of the Porter's Generic Strategies - Low cost strategy, Broad Differentiation and Focused Low cost

$2.19
See Also This Related BrainMass Solution

Strategic Plan on Pfizer, Inc.

A. Long Term Objectives : In addition to long term objective also address following areas: Profitability, Productivity, Competitiveness, Employee development and relations, technical leadership, and public responsibility.
B. Strategic analysis and choice: In this section you should discuss: Generic Strategies, Matched Pairs Analysis, and Grad strategies.
C. Action Plan : The action plan should be directly traceable to the long term objectives.

View Full Posting Details