Porter's Generic Strategies outlines three broad types of competitive strategies: cost leadership, differentiation, and focus. Cost leadership involves having the lowest costs in the industry to be the low-cost provider. Differentiation means offering unique attributes that are valued by customers and allows charging higher than average prices. Focus involves choosing a narrow target and tailoring the strategy to serve that group's needs in order to gain an advantage.
Porter's Generic Strategies outlines three broad types of competitive strategies: cost leadership, differentiation, and focus. Cost leadership involves having the lowest costs in the industry to be the low-cost provider. Differentiation means offering unique attributes that are valued by customers and allows charging higher than average prices. Focus involves choosing a narrow target and tailoring the strategy to serve that group's needs in order to gain an advantage.
Porter's Generic Strategies outlines three broad types of competitive strategies: cost leadership, differentiation, and focus. Cost leadership involves having the lowest costs in the industry to be the low-cost provider. Differentiation means offering unique attributes that are valued by customers and allows charging higher than average prices. Focus involves choosing a narrow target and tailoring the strategy to serve that group's needs in order to gain an advantage.