Question

Can you describe one of the five generic competitive strategies within the context of a real, current company and their product or service?

Answer 1

the five genetic competitive strategies

1. low-cost provider strategy

2. broad differentiation strategy

3. focused low cost strategy

4. focused differentiation strategy

5. best-cost provider strategy

COMPETITIVE STRATEGY

Competitive strategy is a long term action plan for how a firm will compete after evaluating its strengths and weaknesses

it defined as a framework for making decisions that create results in a competitive market.

competitve theroy was proposed by MICHAEL PORTER in 1980

1. LOW COST PROVIDER STRATEGY

appealing to a broad spectrum of customers based on being the overall low-cosy provider of a product or service

2. BROAD DIFFERENTIATION STRATEGY

seeking to differentiate the company product offering from rivals in way that will appeal to a broad spectrum of buyers

3. FOCUSED LOW COST STRATEGY

Concentrating on a narrow buyer segment and outcompeting rivals by serving niche memebers at a lower cost than rivals

4. FOCUSED DIFFERENTIATION STRATEGY

Concentrating on a narrow buyer segment and outcompeting rivals by offering niche memebers a custamized product or service that meets their tastes and requirements than rivals offerings

5. BEST-COST PROVIDER

Giving customers more value for the money by combining an emphasis on low cost with an emphasis on upscale differentiation. The target is to have the best costs and prices relative to producers of products with comparable quality and freatures.

company and their service

1. tata consulutancy services (TCS and IT services)

2. Reliance industies (textiles,telecommunication,retail,natural resources)

3. HDFC back (RBI to offer financial services in the private sector)

4. Hindustan unilever

5. HDFC (banking, general insurance, asset management, education)

6. Infosys (IT services segment)

7. ITC (FMCG, hotels, packaging, agri-business)

8. KOTAK (mahindra bank (banking and financial services)

9. ICICI (banking products and financial services)

10. state bank of india (banking services)