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competitive strategies (The Strategy Clock (two features (It is focused on…
competitive strategies
definition
Competitive advantage
how a company, business unit or organisation creates value for its users, both greater than the costs of supplying them and superior to that of rivals.
competitive strategy
concerned with how a company, business unit or organisation achieves competitive advantage in its domain of activity.
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differentiation strategy
definition
involves uniqueness along some dimension that is sufficiently valued by customers to allow a price premium.
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example: 1. Computer company make PC for people working on computer industry
2.Apple is focus on different groups
Using differentiation strategy
three key drivers
Customer relationships – customer service and responsiveness (e.g. Zalando); customisation (e.g. SAP) or marketing and reputation (e.g. Coca Cola).
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focus strategy
definiton
targets a narrow segment or domain of activity and tailors its products or services to the needs of that specific segment to the exclusion of others.
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cost focusers
identify areas where broader cost based strategies fail because of the added cost of trying to satisfy a wide range of needs (e.g. Iceland Foods).
differentiation focusers
look for specific needs that broad differentiators do not satisfy so well (e.g. ARM Holdings in the market for mobile phone chips)
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The Strategy Clock
definition
The strategy clock provides an alternative approach to generic strategy which gives more scope for hybrid strategies
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