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Differentiation Approach and the Cost Leadership Approach

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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