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Posted on : August 14, 2023 | post in : Whatsapp Mobile Number List |Leave a reply |

We recommend Elements of strategic management of every company What about a cost leadership strategy instead? In addition to the cost leadership strategy, Michael Porter mentions competitive strategies : concentration and differentiation. The first of them, the concentration strategy, focuses attention on one specific market segment, on a specific group of buyers, product line or geographic market. Its idea is a strictly selecte goal that allows you to gain an advantage over competitors by better meeting nees, low cost in a given segment or by combining both solutions.

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The concentration strategy is limite by the limite possibilities of increasing market share and the nee to balance between profitability and sales volume. The differentiation strategy consists in producing products/services perceive as unique on the Japan WhatsApp Number List market, through unique design, technology use, outstanding customer service or excellent brand image. The use of a differentiation strategy makes it possible to achieve a competitive advantage according to Porter’s five forces model.

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Competitiveness in this case is built on customer loyalty and low price sensitivity. Unfortunately, differentiation does not allow to achieve a high market share and requires imposing higher prices for the products offere (due to their exclusivity). This, in BH Lists turn, limits the target group – not every consumer will be intereste in brand products because of high prices. Which strategy to choose? This is an individual issue for each company. Cost leadership is one option. The choice should be base on a detaile analysis of the company, taking into account its strengths and weaknesses, opportunities as well as opportunities and threats arising from the market on which it operates.

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