5 Generic Competitive Strategies...

Bismillahirrahmanirrahim…
Assalamualaikum everyone,
Hope Allah s.w.t always blesses our life and please don't forget to smile…:)

Before I start typing more, I want to ask you about one thing. May I?heee…
Have you ever heard the term of ‘Generic competitive strategies’???
Maybe some of you may know this term but some did not know. Its ok, I will explain to you briefly for this topic.

Based on my understanding, the generic competitive strategies can defined as “if you have a firm, what kind of strategies that you can do to compete with another competitor to dominate market target?”. The Generic Competitive Strategies can be divided into five categories which are;

 1) Low-Cost Provider
- Low cost than rivals to attract a broad of buyers.
- E.g: Air Asia Airlines

2) Broad Differentiation
- Seeking to differentiate the firm’s product offerings from rivals that will appeal to broad of buyers. 
- E.g: McDonald

3) Focused Low-Cost
- Offer a lower price of product by narrow price on product cost.
- E.g: Mydin

4) Focused Differentiation
- Focusing on narrow buyer segment by specific on tastes and requirement of product / offering unique features that fulfill the demands of a narrow market.
-E.g: Mandarin Oriental Hotel

5) Best-Cost Provider
- Giving customer more value for the money by emphasizing both low cost and upscale product than another rivals.
- E.g: Honda

In short, this topic has explained more about firm’s strategies in term of to dominate the target market and compete with other rivals as well as to attract buyers to consume their product. I think that’s all for this topic. 

         

 “ A good strategy will put us in good level ”