Unit 8 - Choosing Strategic Direction

Question 1

Define porters generic strategies

Answer 1

A positioning model used to improve or create a competitive advantage for a business

Question 2

What are the two axis on porters generic strategies

Answer 2

Competitive advantage - cost
Competitive scope - mass/niche market

Question 3

Give the 4 generic strategies

Answer 3

Cost leadership
Cost focus
Differentiation
Differentiation focus

Question 4

Examples of cost leadership

Answer 4

Aldli and Lidl

Question 5

Examples of cost focus

Answer 5

Supermarket own organic range

Question 6

Examples of differentiation

Answer 6

Dyson and apple

Question 7

Examples of differentiation focus

Answer 7

Organic dog food
Elephant coffee