Porter Competitive Advantage Strategy
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Competitive advantage comes from low costs or differentiation. Companies pursue cost leadership, differentiation, or focus strategies depending on their scope and basis of advantage. Cost leadership aims to have the lowest costs industry-wide while differentiation makes products unique. Focus involves serving a niche market better than competitors through low costs or differentiation. Sustaining advantage requires continuous improvement, learning, and overcoming inertia to adapt strategies.
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1. Apple faces low threats of new entrants and substitutes due to continuous product differentiation and innovation. Rivals put effort into R&D but Apple often introduces new product categories.
2. Apple outsources manufacturing to lower costs while maintaining quality control. It uses automated receiving and efficient packaging to streamline operations.
3. The company expands retail stores and distribution channels worldwide for high quality customer experiences while reducing environmental impact through packaging design.
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Strategic management unit-II
This document summarizes Porter's generic competitive strategies of cost leadership, differentiation, and focus. It explains that competitive advantage comes from low cost or differentiation. Cost leadership aims for overall low cost and broad market scope, while differentiation offers unique products/services. Focus strategy pursues either approach but targets a narrow customer segment or market niche. The document also discusses barriers to imitation that allow sustained competitive advantage and reasons why companies fail, such as inertia and prior strategic commitments limiting flexibility.
Competetive strategies
Competitive strategies aim to attract customers, withstand competition, and strengthen market position by exploiting competitive advantages. There are three generic competitive strategies: cost leadership, differentiation, and focus. Cost leadership involves having the lowest costs in the industry while differentiation involves offering unique products/services. Focus strategy pursues either approach but in a narrow customer segment. Functional strategies play a key role in determining and implementing the overall competitive strategy.
Excellent Business Strategies By - S.BasavaRaj Ireland
Business-level strategies aim to create competitive differences between a firm and its rivals. There are two types of competitive advantage - cost leadership and differentiation - and two types of competitive scope - broad and narrow. This results in five generic business-level strategies: cost leadership, differentiation, focused cost leadership, focused differentiation, and integrated cost leadership/differentiation. The document discusses each strategy in detail, outlining their goals, requirements, defenses against competition, risks, and when each strategy is most applicable.
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This document summarizes five generic competitive strategies: low-cost provider, differentiation, best-cost provider, focused/niche strategies. It outlines the objectives and keys to success for each strategy, as well as potential pitfalls. A low-cost strategy involves achieving the lowest costs to attract price-sensitive customers, while differentiation involves unique features to appeal to customers. A best-cost strategy combines low costs with good features to offer the best value. Focus strategies target a narrow niche market segment. The document advises selecting a strategy that positions a company distinctly rather than getting "stuck in the middle" between approaches.
strm05.ppt
This document discusses various competitive strategies that firms can employ, including low-cost leadership, differentiation, focus/niche strategies, cooperative strategies, mergers and acquisitions, and vertical integration/outsourcing strategies. It provides details on how each strategy can provide competitive advantages and disadvantages, and when each strategy may be most effective.
strm05.ppt
This document discusses various competitive strategies that firms can employ, including low-cost leadership, differentiation, focus/niche strategies, cooperative strategies like strategic alliances, and vertical integration/outsourcing strategies. It provides details on how each strategy can provide competitive advantages and disadvantages, and when each strategy may be most effective.
Chapter 8 presentation
1. The document discusses different business strategies such as cost leadership, differentiation, market focus, and speed-based strategies. It explains the characteristics and benefits of each strategy.
2. The stages of industry evolution are explored, from emerging to growing to mature to declining industries. The document outlines the competitive advantages and strategic choices that are most suitable for businesses in each stage.
3. Additional strategies are presented for fragmented and global industries, including decentralized approaches and specialization. The last section discusses strategies for diversification and integration.
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This document provides an overview of Porter's generic strategies including cost leadership, differentiation, and focus strategies. It discusses Michael Porter, the creator of the generic strategies framework, and then defines each generic strategy and provides examples. For each strategy, it outlines the internal strengths companies need to succeed with that strategy and potential risks. It also discusses how Porter's five forces of competition, including rivalry, threats of substitution, buyer power, supplier power, and barriers to entry, relate to the different generic strategies.
Generic competitive strategy
This document discusses generic competitive strategies as proposed by Michael Porter in 1980. It outlines three main competitive strategies: cost leadership, differentiation, and focus. Cost leadership involves having the lowest costs in the industry to offer lower prices broadly. Differentiation creates unique product attributes that allow charging higher prices. Focus strategies target specific market segments by emphasizing either low costs or differentiation for a narrow market. Examples are given like Walmart for cost leadership and Apple for differentiation.
Business level strategy
Business level strategies help firms position themselves relative to competitors by choosing whether to perform different activities or pursue lower costs or uniqueness. There are five main business level strategies: cost leadership, differentiation, focused low cost, focused differentiation, and integrated strategies. Cost leadership aims for standard products at lowest prices while differentiation focuses on unique product features. Focused strategies target a narrow market segment with either lower costs or differentiation. An integrated strategy combines elements of cost leadership and differentiation.
competetive advantage.pdf
The document discusses various strategies for achieving and maintaining competitive advantage. It defines competitive advantage as when one firm earns persistently higher profits than rivals within the same market. The main types of competitive advantage are cost advantage and differentiation advantage. Porter's generic strategies of cost leadership, differentiation, and focus aim to achieve these advantages. Integrated or hybrid strategies combine elements of cost leadership and differentiation. Sustainable competitive advantage is durable, valuable, unique, difficult to imitate, and not substitutable. The document outlines various defense strategies that market leaders can employ, such as position defense, flanking defense, contraction defense, pre-emptive defense, and counter-offensive defense.
Lecture 6 business level strategy (1)
This document discusses different business level strategies:
1. Price-based strategies (routes 1 and 2) focus on low costs and prices to attract price-sensitive customers. Margins are reduced.
2. Broad differentiation strategies (route 4) focus on identifying strategic customers and competitors and creating difficult-to-imitate differences.
3. Hybrid strategies (route 3) aim to achieve greater volumes at lower margins than competitors by having both differentiated activities and lower costs in other areas.
4. Focused differentiation strategies (route 5) target specific customer segments but risks from market changes eroding differences or tensions with other organizational strategies.
Sustaining advantages requires either unique low costs, capabilities, or barriers
L5
This document discusses the five generic competitive strategies: low-cost provider, differentiation, focused low-cost, focused differentiation, and best-cost provider. It explains the key factors that distinguish each strategy and the market circumstances where each strategy works best or faces potential pitfalls. The learning objectives are to understand how the strategies differ based on their cost and differentiation approaches and target markets, and to learn the major avenues for achieving advantages through lower costs or differentiation.
Chap005.ppt
This document discusses the five generic competitive strategies: low-cost provider, differentiation, focused low-cost, focused differentiation, and best-cost provider. It explains the key factors that distinguish each strategy and how they position firms differently in the market. The strategies aim to achieve either a cost advantage or differentiation. Circumstances that make each strategy more attractive are outlined. Potential pitfalls of each approach are also noted. Finally, it is emphasized that a competitive strategy is more likely to succeed if it leverages a firm's unique resources and capabilities.
Lecture 2_S.ppt
This document provides an overview of key concepts for developing competitive advantages and strategies. It defines competitive advantage and discusses Porter's Five Forces model for evaluating industry attractiveness based on supplier power, threat of substitutes, threat of new entrants, rivalry among existing competitors, and bargaining power of buyers. It also describes Porter's three generic strategies of cost leadership, differentiation, and focus. Additionally, it explains value chain analysis for executing business strategies through primary and support activities. The learning outcomes cover explaining why competitive advantages are temporary, describing Porter's Five Forces model, comparing Porter's three generic strategies, and demonstrating value chain analysis.
Business level strategies
This document discusses different business-level strategies that a firm can pursue to gain a competitive advantage, including cost leadership, differentiation, and focus strategies. It defines each strategy and describes the core competencies, customer needs, and actions required to successfully implement each one. The risks and benefits of each individual strategy as well as integrated strategies are also examined. Overall, the document provides an overview of the key considerations and tradeoffs involved in different business-level strategic approaches.
The importance of competitive advantage
The document discusses competitive advantage, which is an attribute that allows a company to outperform its competitors through superior margins or value. Competitive advantages must be difficult to duplicate. Examples include access to resources, skilled labor, technology, or low costs. Companies establish advantages by clarifying benefits, targeting markets, understanding competitors, and employing strategies like cost leadership, differentiation, or focus. Strategies involve low costs through scale or differentiating products. Maintaining an advantage is important for business success and survival against competitors.
Focus & niche strategies
The document discusses focus and niche strategies. It defines a focus strategy as concentrating attention on a narrow piece of the total market. The objectives are to better serve buyers in the target niche market than competitors. Keys to success include choosing a niche with distinctive buyer preferences and developing a unique ability to serve that niche's needs. Approaches to focusing include achieving lower costs or offering something different for the niche. The competitive advantages of focus strategies are building defenses against rivals by specializing in a niche's needs. Focus strategies work best when serving a niche's specialized needs is difficult for multi-segment competitors. However, risks include competitors matching the focus or the niche drifting to mainstream preferences over time.
846231L_8a_Generic_Strategies.ppt
Porter's generic strategies include cost leadership, differentiation, and focus. Cost leadership involves having the lowest costs in the industry to compete on price, while differentiation means creating unique products that customers perceive as superior and are willing to pay a premium for. A focus strategy targets a specific customer segment by having either the lowest costs or most differentiated products in that niche. Firms must choose one of these strategies to avoid being "stuck in the middle" with no clear competitive advantage.
Competitive strategies
The document discusses five generic competitive strategies: low-cost provider, differentiation, best-cost provider, focus/niche, and their key characteristics. It provides an overview of each strategy, including their objectives, keys to success, benefits, pitfalls, and when each strategy works best. Choosing the right competitive strategy depends on a firm's resources and positioning in its market to outcompete rivals.
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𝐔𝐧𝐯𝐞𝐢𝐥 𝐭𝐡𝐞 𝐅𝐮𝐭𝐮𝐫𝐞 𝐨𝐟 𝐄𝐧𝐞𝐫𝐠𝐲 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲 𝐰𝐢𝐭𝐡 𝐍𝐄𝐖𝐍𝐓𝐈𝐃𝐄’𝐬 𝐋𝐚𝐭𝐞𝐬𝐭 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬
Explore the details in our newly released product manual, which showcases NEWNTIDE's advanced heat pump technologies. Delve into our energy-efficient and eco-friendly solutions tailored for diverse global markets.
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Porter Competitive Advantage Strategy
- 1. 1
- 2. § Competitive advantage § Competitive advantage implies gaining the edge on others – using resources & capabilities § competitive strategy • Consists of business approaches to – Attract customers by fulfilling their expectations – Withstand competitive pressures – Strengthen market position
- 3. §Competitive advantage come from one of two sources: § Having the lowest cost in the industry § Possessing a product or offering a service that is perceived as unique in the industry §Another important factor is the scope of the product-market (broad or narrow) §Mix of these factors provide basis for § Cost leadership strategy (low-cost strategy) § Differentiation strategy § Focus strategy
- 4. 4
- 6. Market Scope Competitive Advantage Low Cost Differentiation Broad Narrow Cost Leadership Differentiation Focus (Low Cost) Focus (Differentiation)
- 7. • Objective: – Gain sustainable competitive advantage over competitors, using low-cost (not price) – Produce for broad customer base § Low cost implies OVERALL LOW COST § Not just low manufacturing or production cost § Product quality cannot be ignored
- 8. § Strict attention to production controls § Rigorous use of budgets § Little product differentiation § Limited market segmentation § Emphasis on productivity improvements
- 9. • Objective – Offering products/services perceived as unique over the brands of rivals in an industry • Keys to Success – Offer products/services that create value to customers – Offer products/services not easily matched or easily copied by rivals – Not spending more to differentiate the firm’s products or service than the price premium that can be charged
- 10. • A product / service with unique and appealing attributes allows a firm to – Command a premium price and/or – Increase unit sales and/or – Build brand loyalty = Competitive Advantage
- 11. § Firm pursues either a cost leadership or differentiation strategy but in a narrow customer group of segment § Concentrates on serving specific market niche § Geographical area § Type of customer -- specific group of customers § Specific & specialized product line
- 12. § Objective § Serve the niche customers better than competitors § Keys to Success § Choose a market niche where buyers have distinctive preferences, special requirements, or unique needs § Develop unique capabilities to serve needs of target buyer segment
- 13. § Approach 1: Cost Advantage § Achieve lower cost than rivals in serving the specific or narrow segment § Approach 2: Differentiation Advantage § Offer customers in niche market something unique in that market § Product features § Product innovations § Product quality § Customer responsiveness
- 14. – Rolex: Serve highest end of wristwatch market (premium pricing & image) § Rolls-Royce: Serving luxurious end of automobile market (premium pricing & image)
- 15. §Barriers to imitation § Speed of imitation by competitors in reducing advantage § Imitation by acquiring similar resources § Imitation of capabilities (more difficult) §Limits on competitors § Prior strategic commitments § Absorptive capacity for change §Industry dynamism § The rapid innovation shortens product life cycles. © Ram Mudambi, Temple University, 2007 3-15
- 16. §What went wrong? §Inertia § Companies find it difficult to change their strategies and structures §Prior strategic commitments § Limit a company’s ability to imitate and cause competitive disadvantage §The Icarus paradox 3-16
- 17. 3-17 Avoiding failure and sustaining competitive advantage vFocus on the building blocks of competitive advantage. vInstitute continuous improvement and learning. vTrack best industrial practice and use benchmarking. vOvercome inertia.