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Marketing strategies:

1. Market dominance: Market dominance is a measure of the strength of a brand, product, service, or firm, relative to competitive offerings. There is often a geographic element to the competitive landscape. 2. Porter's generic strategies Porter simplifies the scheme by reducing it down to the three best strategies. They are cost leadership, differentiation, and market segmentation (or focus). Market segmentation is narrow in scope while both cost leadership and differentiation are relatively broad in market scope. i) Cost Leadership Strategy: This strategy involves the firm winning market share by appealing to cost-conscious or price-sensitive customers ii) Differentiation Strategy: Differentiate the products or provide unique products in some way in order to compete successfully with others. iii) Market segmentation: Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs, and then designing and implementing strategies to target their needs 3. Vendor lock-in: Vendor lock-in makes a customer dependent on a vendor for products and services, unable to use another vendor without substantial switching costs. Exp: Apple, IBM, Microsoft etc. 4. Mass customization: Mass customization in marketing management is the use of flexible computer-aided manufacturing systems to produce custom output. Those systems combine the low unit costs of mass production processes with the flexibility of individual customization.

Financial strategies:
1. Capital budgeting The process in which a business determines whether projects such as building a new plant or investing in a long-term venture are worth pursuing. Prospective project's lifetime cash inflows and outflows are assessed in order to determine whether the returns generated meet a sufficient target benchmark.

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2. Risk management Risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and impact of unfortunate events. This includes: i) ii) Hedging: Derivatives allow risk related to the price of the underlying asset to be transferred from one party to another Speculation and arbitrage: Speculators look to buy an asset in the future at a low price according to a derivative contract when the future market price is high, or to sell an asset in the future at a high price according to a derivative contract when the future market price is low. Individuals and institutions look for arbitrage opportunities, as when the current buying price of an asset falls below the price specified in a futures contract to sell the asset.

3. Investment strategy: Investment strategy is a set of rules, behaviors or procedures, designed to guide an investor's selection of an investment portfolio. Usually the strategy will be designed around the investor's risk-return tradeoff

Human Resource Management strategies:


1. Universalistic approach: The basic HR strategies which benefits all the organization as a whole. This is applied for all business organization and institution. 2. Strategic fit approach: HRM involves matching specific HR practices to the firms overall business strategy 3. Internal Service Provider: In this approach Strategic HRM, involves the role of HR professionals in providing HR services to business units within the firm. The goal is to enhance the effectiveness and efficiency of the operations of the concerned business unit customers 4. Configurational: The configurational approach to HRM suggests that there are various configurations of HR practices that go hand- in-hand and, collectively improving the business performance.

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5. Resource based Model: This model of SHRM is based on the idea that organizations gain competitive advantage with the resource (employees) that are valuable, rare, difficult with high competence levels for competitors to imitate or acquire success by enhancing the overall value of the firm.

Operational Strategies
1. Corporate Strategy: Corporate strategies involve seeing a company as a system of interconnected parts. 2. Customer-driven Strategies: Operational strategies should include customer-driven approaches to meet the needs and desires of a target market. Company must develop strategies that evaluate and adapt to changing environments, continuously enhance core competencies and develop new strengths on an ongoing basis. 3. Developing Core Competencies: Core competencies are the strengths and resources within a company. While core competencies can vary by industry and business, they can include having well-trained staff, optimal business locations and marketing and financial expertise. 4. Competitive Priorities: The development of competitive priorities comes from the creation of a corporate strategy, market analysis, defining core processes and conducting a needs analysis.

Above are some of the mentionable business strategies implemented by different organization around the world. Now a days efficient new strategies are being developed through extensive analysis and market research to attain maximum profit along with huge market share.

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