Hi guys ! For this lecture, we learn about five generic competitive strategies. This topic is about the competitive strategies that a company use to compete with other rivals.
Competitive strategies is a long-term action plan that is devised to help a company gain a competitive advantage over its rival. This type of strategy is often used in advertising campaigns by somehow discrediting the competition's product or service. Competitive strategies are essential to companies competing in markets that are heavily saturated with alternatives for consumers.
Lets disscuss about the five generic competitive strategies :)
- Low-Cost Provider is a striving to achieve lower overall costs than rivals on products that attract a broad spectrum of buyers.
- Broad Differentiation is a differentiating the firms product offering from rivals' with attributes that appeal to a broad spectrum of buyers.
- Focused Low-Cost is a concentrating on a narrow price-sensitive buyer segment and on costs to offer a lower-priced product.
- Focused Differentiation is a concentrating on a narrow buyer segment by meeting specific tastes and requirements of niche members.
- Best-Cost Provider is a giving customers more value for the money by offering upscale product attributes at a lower cost than rivals.
One of the knowledge that I gain from the lecture was Air
Asia used the low-cost strategy to make their company success. Air Asia
offers their interesting tagline "now everyone can fly". It means that all people can travel anywhere although they are not wealthy. Okay, thats all for today guys ! :'D
No comments:
Post a Comment