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    Differentiation Approach and the Cost Leadership Approach

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    9. Professor Michael Porters generic strategy options for competing are the differentiation approach and the cost leadership approach. The first involves competing by having a better product and the second by having a lower cost that ones competitors. Relate this strategy to the monopolistic competitive model.

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    The two generic strategies are directly related to the monopolistically competitive model because firms either pursue a differentiation approach or cost leadership approach to establish a unique positioning for their products in the marketplace. Companies try to ...

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    Professor Michael Porters generic strategy options for competing are the differentiation approach and the cost leadership approach. The first involves competing by having a better product and the second by having a lower cost that ones competitors. Relate this strategy to the monopolistic competitive model.

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