COMPETITIVE STRATEGIES 0.0 / 5 ? Business StudiesMarketing and competitive environmentsMarketing mixA2/A-levelOCR Created by: Michaela96Created on: 29-01-14 12:55 What is a competitive advantage? Standing out from competitiors by offering customers greate value e.g. lower prices 1 of 9 What is cost leadership? Where you have a cost advantage over the competitors 2 of 9 Give 4 disadvantages of cost leadership Lower quality, need to sell a lot, no advertising, need cost effective distribution 3 of 9 What is cost focus? Lower cost in just a small segment e.g apple 5c 4 of 9 Give 2 disadvantages of cost focus risky, need to be persuasive 5 of 9 What is differentiation focus? Offering something different in one segment 6 of 9 Give 2 disadvantages of differentiation focus Expensive research and promotion, risky as there's a limited audience 7 of 9 What is differentiation leadership? Competitive advantage in the whole industry e.g. premium prices 8 of 9 Give 3 disadvantages of differentiation leadership Risky, branding is important, lots of market research is needed 9 of 9
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