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4 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Cost Leader |
Company aims to become lowest cost producer in its industry while maintaining acceptable product quality. Lower prices than competitors --> Attract greater customer base --> Greater Market share. E.g. Wallmart. |
Walmart. Price + quality |
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Differentiation |
Co. aims to stand out from its competitors by offering unique and high quality products and services. Products with distinctive features, design, quality --> customer perceive superior -- > Premium prices. E.g. Apple, Whole Food |
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Focus (Cost Focus and Focus Differentiation) |
Cost Focus Becoming the lowest cost provider within a specific niche or market segment. Co. aims to offer products and services at lower prices than competitors while maintaining acceptable quality.
Differentiation Focus Co. seeks to differentiate its products or services in a way that caters the preferences and demands of a chosen niche. Unique features, design, or branding. |
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Focus (Extra) |
Focus strategy key idea is to avoid trying to serve the entire market and instead focus on a smaller, more manageable portion where the company can excel and build a competitive advantage. |
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