THE FIVE GENERIC COMPETITIVE STRATEGIES. Chapter 5 MGT 4380. Strategic Management Process. What is a competitive strategy?. Competitive Strategy Concerns management’s " game plan " for competing successfully and securing a competitive advantage over rivals (strategy as…PLAN)
This area represents the value created in each profitable sale and consists of both profit to the firm and surplus to the customer.
Adopting and adapting a strategy or strategies that balance firm costs, profit, and overall value for customers
to the Firm
This area representsthe firm’s total costs in presenting the product or service for sale. To create new value, the firm must cover its total costs.
Command a premium price
Increase its unit sales
Gain buyer loyalty to its brandWhat are the benefits of a differentiation strategy?
Just think about Apple….