Porter's Generic Startegy

  • Created by: Ella RR
  • Created on: 06-05-14 15:30
A strategy that allows a firm to be the lowest cost producer in the industry as a whole
Cost leadership
1 of 10
The strategy that exploits a product/service which is believed to be unique
Differentiation
2 of 10
A strategy that concentrates on a limited part of the market
Focus
3 of 10
A risk of cost leadership is that it can make a business
vulnerable
4 of 10
A problem of focus strategy is that is sacrifices...
economies of scale
5 of 10
A section of differentiation
market segmentation
6 of 10
A basic approach to strategic planning that can be adopted by any firm to improve its competitive performance
Generic strategy
7 of 10
A benefit of focus strategy is that it involves .... in resources
lower investment
8 of 10
A focus strategy
cost focus
9 of 10
Differentiation is a .... marketing strategy
niche
10 of 10

Other cards in this set

Card 2

Front

The strategy that exploits a product/service which is believed to be unique

Back

Differentiation

Card 3

Front

A strategy that concentrates on a limited part of the market

Back

Preview of the front of card 3

Card 4

Front

A risk of cost leadership is that it can make a business

Back

Preview of the front of card 4

Card 5

Front

A problem of focus strategy is that is sacrifices...

Back

Preview of the front of card 5
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