porters generic strategies Flashcards
1
Q
What are the 4 generic strategies?
A
Cost leadership
Cost focus
Differentiation
Differentiation focus
2
Q
What is cost leadership?
A
The focus on minimising costs in order to have the lowest selling price in a mass market.
3
Q
What is cost focus?
A
The focus on minimising costs to have the lowest selling price within a niche market.
4
Q
What is differentiation?
A
Focus on creating a unique selling point in order to stand out and gain a competitive advantage in a mass market.
5
Q
What is differentiation focus?
A
The focus on creating a unique selling point within a niche market segment.
