Porter's Generic Strategies 9 / 10

This deals with HOW to change the competitive edge and gives 3 possible options:

  1. Cost leadership - This involves manufacturing goods more efficiently than rivals.

  2. Differentiation - This involves charging a premium for a product due to its actual or perceived benefits.

    An example would be a company who is a leading brand and is successful due to its high quality materials. Its products would be considered to be differentiated and marketed as ‘high end products’.

  3. Focus - This involves focusing on a particular market segment. It allows businesses to charge a premium price for their products.

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