To Determine:
The strategy of company behind each good or service
Introduction:
Strategy: Strategy is an art of leader or top personals to make a plan to achieve the goals.
Michael Porter’s characteristics of an effective strategy: According to Michael Porter the strategic positioning is necessary to gain the competitive advantage by estimating the distinctive feature of the firm.
Michael Porter’s competitive strategies: Michael Porter’s competitive strategies are as follows:
- Cost-Leadership or Low Cost Strategy: This strategy focuses on low cost and Price for market wide.
- Differentiation Strategy: This strategy focuses on Introducing new and better product or services in the wide market.
- Focus Strategy: This strategy focuses on a restricted product / cost.
Given Information:
The discussion requires us to list five products or services consumed by us within past 24 hours and the strategy of company employed behind each good or service.
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