Strategic strength is a supply-side dimension and looks at the strength or core competency of the firm. In particular he identified two competencies that he felt were most important: product differentiation and product cost (efficiency). He originally ranked each of the three dimensions (level of differentiation‚ relative product cost‚ and scope of target market) as either low‚ medium‚ or high‚ and juxtaposed them in a three dimensional matrix. That is‚ the category scheme was displayed as a 3 by 3
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NON MONETARY PROMOTION Analysis of Consumer Response to Gift Promotions INTRODUCTION Growth of consumerism has emerged as a worldwide observable fact. Business firms too have risen and realized that nothing sells if there is no demand by the consumers. Consumer sovereignty exist that states “Consumer is the King”. This research paper is an analysis of non monetary promotion and its types‚ consumer response to non monetary promotion and consumer expectations towards non monetary promotions.
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(Annual Report‚ 2011)and there is exception for their credit card facilities. In general‚ Barclaycard’s strategy has been to try a focus on being different. Differentiation has been defined by Porter (1998) as a sustainable advantage that allows it to provide buyers with something uniquely valuable to them. Carpenter (199) describes differentiation is a competitive advantage which identifies a valuable‚ relevant‚ but overlooked dimension of a product. They have one concept of a card where customer
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due to spending on advertisement and creating differentiation in the minds of customers its cost leadership is not there. Example: If we look at the prices of Frooti‚ Bailley‚ Hippo‚ we will find that their prices are affordable with no degradation in the level of quality. Parle Agro has penetrated to rural areas with these prices. Its products are available at every store due to its pricing scheme suitable to all. Differentiation Differentiation helps a company to charge a premium amount for
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each of its businesses separately‚ to serve identified customer groups and provide value to the customer by satisfaction of their needs. *Business level strategies can be classified into the following types:*- Cost leadership Differentiation strategy Focus strategy Integration strategy COST LEADERSHIP STRATEGY Benefits associated with cost leadership strategy: Cost leadership strategy provides the best insurance against ill-effects of competition with
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competitive strategies of cost leadership‚ differentiation‚ and focus are discussed‚ and it is argued that each represents a different set of choices concerning products‚ markets‚ and distinctive competencies. Pursuing a particular business‑level strategy involves combining these choices successfully. These sections are very detailed and include implications and conclusions of each strategy. There are also discussions of pursuing a simultaneous low‑cost and differentiation strategy and of being “stuck in the
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Compare and Contrast Essay October 10‚ 2011 Curly Hair is Possible Having extremely curly hair is very hard to manage. Most women turn to straightening or putting a perm in their hair so that it is easier for them to manage: “For a long time I struggled to make my hair straight because I could never find a product that I liked enough to leave it curly…” (“Maryann”). Not only does this quote show how women struggle with their curly hair‚ but it shows how hard it is to find a hair product that
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find and exploit all sources of cost advantage. if a firm can achieve and sustain overall cost leadership‚ then it will be an above average performer in its industry‚ provided it can command prices at or near the industry average. 2. Differentiation In a differentiation strategy a firm seeks to be unique in its industry along some dimensions that are widely valued by buyers. It selects one or more attributes that many buyers in an industry perceive as important‚ and uniquely positions itself to meet
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using an industrial example. Michael Porter indentified that there are 2 basic types of competitive advantage‚ cost advantage and differentiation advantage. A competitive advantage exists when the firm is able to deliver the same benefits as competitors but at a lower price (Cost Advantage) or deliver benefits that exceed those of the competitors (Differentiation). Thus‚ the firm creates superior value and products for customers whilst it gains superior profit for the company. A resource based
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The Three pure generic competitive strategies are cost leadership‚ differentiation and focus. Each factor has its own advantages and disadvantages. A company should balance these factors in order to be successful. For growing industries‚ there are several other sub factors like chaining‚ franchising‚ etc. Our article will focus primarily on the generic factors as they are applicable to most of the industries and the challenges that the companies face with these strategies The cost leadership is
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