The five generic competitive strategy option each represent a distinctly different approach to competing in the marketplace. In this recording, we cover what distinguishes each of the five generic strategies and why some of these strategies work better in certain kinds of competitive conditions than in others. We talk through the major avenues for achieving a competitive advantage based on lower costs. We also talk through the major avenues to a competitive advantage based on differentiating a company’s product or service offering from the offerings of rivals. The discussion ends with the attributes of a best-cost strategy—a hybrid of low-cost and differentiation strategies.
#Strategy #GenericStrategies #CompetitiveAdvantage
