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describes several distinctive strategies available to achieve a competitive advantage in the marketplace. Choose one of...

describes several distinctive strategies available to achieve a competitive advantage in the marketplace. Choose one of the four major strategies and describe some of the benefits associated with pursuing such a strategy.

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Answer #1

Competitive advantage is achieved using following 4 strategies :

  1. Cost leadership
  2. Differentiation
  3. Cost focus
  4. Differentiation focus

Cost leadership is most recommended strategy as firm becomes lowest cost provider in market and offers rock bottom prices to drive market share using economies of scale, higher sales volumes and variety to become the market leader.

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