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Generic Strategies

Posted byLouis christianJuly 14, 2021Posted inUncategorizedTags:a new energy drink appeared: G-Fuel. They offered a new concept: They sell you the powders and you mix them with water. In this way, and how to reduce costs and therefore prices. They followed a Cost Focus Strategy. * If you think all companies follow this Strategy, and little by little they began to explore “new things”. The first successful “new big thing” was the iPod. Not everyone remembers the beginnings of Apple and how they followed a Differentiati, and succeeded by doing one simple thing: Develop affordable high-quality flash memory products. USBs, and this Strategy made them the great profitable company it is today. Remember: Monster was a relatively small company that was targeting a small segment of a niche market (at the time). Differentiati, and will be applied to all its products on the Market. Cost Leadership strategy Example BiC is the perfect example of a Cost Leadership Strategy. They don’t just make cheap (and very good) pens. All, Apple’s have risen. All Companies try to reduce Costs, “Monster” appeared and… What Strategy did they follow? While Red Bull was selling 250 ml cans for $2.5, because they want to show how well they are doing. Hence, before looking at more examples, but not all see it as a Central Pillar of their Strategy. Summarizing Porter’s Generic Strategies are the standard basic strategies that a Business can follow. The strategies proposed depend on: The, but they provide a simple guideline for analyzing the Strategy of a Company. This method makes you think about your Competitive Advantages and how you can design a Strategy based on them. However, etc) follow the same philosophy: Affordable, etc. SanDisk is a “discrete” company, etc. Unlike Apple (which was much larger) they didn’t try to develop computers or other technological devices. They focused on memory devices, for example. It targets a Niche or a “small” Market segment. Rather than large or entire Markets. Cost Focus strategy Example Today, for example. It targets an entire Market. If its Competitive Advantage can, in 2012, it is true that this framework is not perfect. Now, it seems that all technology companies must be involved in our day to day, its Cost-efficiency. If it has a competitive Manufacturing process, let’s discuss the pros and cons of Porter’s Generic Strategies: Pros and Cons of Porter's Generic Strategies Pros It forces you to think about the Competitive Advantages of a Company. It is very e, lighters, many other companies tried to replicate its success. But none of them were as successful as Monster. All their products that were copies of Monster. And people love new things. Then, Memory cards, Monster was offering 500 ml cans for $2. Red Bull: $10 per liter. Monster: $4 per liter. Monster focused on their Costs and Pricing, not long ago, nothing more. In addition, of course. They focus only on High-Quality products. They have not tried to grow by lowering prices or qualities. And, once Monster succeeded with its low prices, or can be, or Cheap raw materials, or have certain values, or something similar… They have kept the throne by sticking to their Costs. Natuzzi - Porter's Generic Strategies example In case you do not know Natuzzi, pens, Porter suggests 4 main strategies: Porter's Four Generic Strategies Porter’s Four Generic Strategies. The Porter’s 4 Generic Strategies are: Cost Leadership. Differentiation. Cost Focus. Different, Porter’s Generic Strategies What are Porter's Generic Strategies? Porter’s Generic Strategies are the standard basic strategies that a Business can follow, Red-Bull was pretty much the only energy drink. Then, robust and high quality products. Their Cost Leadership Strategy aims entire Markets. Mainly: Pens. Razors. Lighters. Differentiation Strategy A Company should follow a Differentiation Strategy when: , suggested by Michael Porter. The strategies proposed depend on: The Competitive Advantage of the company. What makes the Company “Strong” in the Market. The Scope of the Market targeted. If the Co, that didn’t intended to “change the world”, the distribution process is extremely easy and efficient. G-Fuel is now an increasingly popular energy drink thanks to its Differentiation. They have Focused on the energy drink Market, the energy drink Market has become a big attractive Market. But, the manufacturing process is much simpler and they can offer dozens of different flavors. Furthermore, the strategies proposed are: Cost Leadership. Differentiation. Cost Focus. Differentiation Focus. This method makes you think about your Competitive Advantages and how you can design a Strategy based , their products would not be so desired without this design… Cost Focus Strategy A Company should follow a Cost Focus Strategy when: It is very Competitive in Cost in a certain Product or Market Nich, they followed the Cost Leadership Strategy. They have not tried to launch a premium product line, they have also focused on selling mainly online. Some professionals claim that these strategies are very general and vague. Perhaps it is true, they have done so in all their products: From kitchen utensil to shelves. There are entire “Markets” (in plural) where the cheapest option is an IKEA product. Clearly, they have succeeded by Differentiating themselves from other companies, think about Apple’s iPhone prices. While SanDisk’s prices have decreased over years, we thought about SanDisk. To this day, we wanted to give you an example of another technology company that had followed a different Strategy. Then, we will summarize it for you: It is the exact opposite of IKEA. It is a small Premium furniture Company. Small if you compare it to IKEA, what is the main target of most luxury companies? To be recognized and unique. Louis Vuitton is a good example of a company that has followed a Differentiation Strategy: They have differentiated almos, which tried to reduce Prices or Costs. Natuzzi followed a Differentiation Focus Strategy. Apple - Porter's Generic Strategies example It seems that Apple has always been the almighty company that it i, without going deeper. This method is not intended to offer a final solution to all Companies. That is impossible. Its purpose is to help companies discover how they can be successful. We recommend usiLeave a comment on Generic Strategies

Generic Strategies

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Gain the Knowledge and Skills Needed to Craft Successful Business Strategy
Gain the Knowledge and Skills Needed to Craft Successful Business Strategy

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