functions so any product that specialize In one of those individual functions can also be termed as a substitute. Buyer power Buyers bargaining power is high because of the following reasons: * More choice of products and very limited differentiation of those products * Elastic demand- demand is highly sensitive to economy * Less asymmetric information-buyers have all the required information * Less switching costs: This depends on the country and type of mobile plans provided
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generic strategies available to a firm: differentiation or cost leadership. Both strategies can be applied either into a focused market or a broad market. Do you agree that these are the only two strategies available? Are they mutually exclusive? Why or why not? Porter’s Generic Strategies Target Scope Advantage Advantage Low Cost Product Uniqueness Broad(Industry Wide) Cost Leadership Strategy Differentiation Strategies Narrow (Market Segment) Focus Strategy(low cost) Focus Strategy(differentiation)
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* High employee turnover from stress Alternative of differentiation Pros * Highlights company strengths and niches * Attract target customers * Higher revenue per transaction * Lower cost because specialized inventory needs less space Cons * Alienate customers that can’t afford higher cost of product * Higher market risk because business is less diversified Alternative of using both low cost and differentiation Pros * More customer volume * More diversified
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placed beside them. There is also a manequin in the foreground. The painting’s setting is among a couple of factories. It is a very industrialized scene that shows no signs of nature. The painting altogether shows little relation to the real world. Giorgio de Chirico was an
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Case Study: We can describe Apple’s strategy in terms of product differentiation and strategic alliances. Product Differentiation Apple prides itself on its innovation. When reviewing the history of Apple‚ it is evident that this attitude permeated the company during its peaks of success. For instance‚ Apple pioneered the PDA market by introducing the Newton in 1993. Later‚ Apple introduced the easy-to-use iMac in 1998‚ and updates following 1998. It released a highly stable operating system
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Giorgio Vasari is known as and often called ’The Father of the Renaissance‚ and rightfully so. Giorgio has done a lot of creditable work including art‚ books and engineering. The life he lived changed the way we look and do things today. As an architect‚ painter‚ and author‚ Giorgio Vasari had a powerful impact on the Italian Renaissance. Giorgio Vasari was born into a fairly wealthy family of the time.(Britannica) On July 30th 1511 in Arezzo‚ Italy‚ Giorgio Vasari was given life by Antonio Vasari
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An Attractive Analysis of Emporio Armani ad Josh Hartnett‚ an actor of several famous movies such as Black Hawk Down‚ was invited to act in a perfume ad of Emporio Armani’s Diamonds for Men. Josh seems like the strong handsome figure that would want to be captures by many people and captured many looks. He showed his handsome and elegant performance in this ad‚ which made this image more significant. This perfume advertisement whose target audience is towards upper class young men evokes strong
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Competitive Strategies Following on from his work analysing the competitive forces in an industry‚ Michael Porter suggested four "generic" business strategies that could be adopted in order to gain competitive advantage. The four strategies relate to the extent to which the scope of a businesses’ activities are narrow versus broad and the extent to which a business seeks to differentiate its products. The four strategies are summarised in the figure below: The differentiation and cost leadership
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Hilton Hotels: Brand Differentiation through Customer Relationship Management Background Hilton Hotels is one of the biggest players in the US lodging industry. It contributes to about 9% of the total rooms in US lodging market. It has presence in over 78 countries with more than 2500 hotels. Lodging industry is highly capital intensive industry‚ so to reduce capital expenditure Hilton Hotels opted for self-owned Hotels as well as franchising model with the real estate owners. One of the key features
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France was affected by many kings; one of them was Louis the 14th. If you were asked who is the king that faced a big series of war‚ you will be answering Louis the 14th. How did Louis the 14th affected France is the subject of that research. I wrote about this subject because Louis the 14th sat on Frances from the age of five‚ and ruled France for 72 years‚ from the year of 1643- 1715. I faced many difficulties; one of them was the lack of information‚ and references. Another difficulty
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