Class 8

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Last updated 1:33 AM on 12/11/24
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9 Terms

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Cost Leadership

A strategy aimed at providing a similar delivered value at a lower cost to a broad population.

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Differentiation

A strategy aimed at providing a unique and desirable perceived value to a broad population.

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Focus (Niche) Strategy

A strategy aimed at providing a targeted product or service for a narrow, distinct market segment.

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Porter’s Generic Strategies

Framework outlining the strategic approaches of cost leadership, differentiation, and focus/niche.

<p>Framework outlining the strategic approaches of cost leadership, differentiation, and focus/niche.</p>
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Stuck in the Middle

Occurs when a firm unsuccessfully attempts to pursue multiple strategies simultaneously, also known as straddling.

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The Strategy Diamond

A framework that outlines the key components of a strategy, including arenas, staging, vehicles, differentiators, and economic logic.

<p>A framework that outlines the key components of a strategy, including arenas, staging, vehicles, differentiators, and economic logic.</p>
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Economies of Scale

Cost advantages gained through increased levels of production.

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Market Segments

Distinct groups of potential customers identified for targeted marketing.

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Sustainable Differentiators

Unique features or benefits of a product that can be maintained over time to provide a competitive edge.