These strategies have been developed by Porter in1980.
According to him, these strategies are a good startingpoint in strategic planning.
He breakup these strategies into 3 which are:-overall cost leadership.-differentiation.-focus.
OVERALL COST LEADERSHIP STRATEGY
This strategy sometimes is known as Low CostStrategy.
The company tries to maintain low cost of itsoperation and thus can have two advantages:1)Can get better/high profit margin.2)Can charge low price and beat the competitorsand thus enable the company to gain largemarket share.