اَلسَّلاَمُ عَلَيْكُمْ وَرَحْمَةُ اللهِ وَبَرَكَا تُهُ
WHAT HAVE I LEARNED TODAY
😁 What is business level strategies??
=Focus on improving the competitive position of a company's or business unit's products or services within the specific industry or market segment that company or business unit services.
😃 Micheal Porter presented THREE GENERIC BUSINESS-LEVEL STRATEGIES.
-Cost leadership
-Differentiation
-Focus strategy
😾 Cost Leadership Strategy
➤ Ability to produce a product or service at a cost below what competitors can achieve.
→ Example: Dell (computers), Air Asia (air travel) and Mydin (grocery stores).
➤ Concentrate on providing a basic and standardized product or service that can be produced at a relatively low cost and made available to a broad target market
➤ Successful implementation of the cost leadership strategy requires a consistent focus on driving costs lower relative to competitors' costs.
😾 Differentiation Strategy
➤ Creating differences in the firm's products or services by offering something that is perceived industry-wide as unique and valued by customers.
➤ Brand images, unique styling, technology.
→ Example: Harley-Davidson, Apple, and Rolex.
😾 Focus Strategy
➤ The firm competing in narrow scope within an industry. A firm following this strategy selects a segment or group or segment and tailor its strategy to serve them.
➤ Focus Strategies can occur in two forms: cost-based focus and differentiation-based focus.
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