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Which among the following is not a generic strategy?
- a)Unity strategy
- b)Cost leadership strategy
- c)Differentiation strategy
- d)Niche strategy
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
Which among the following is not a generic strategy?a)Unity strategyb)...
Unity Strategy
The unity strategy is not a generic strategy. It is not one of the traditional generic strategies proposed by Michael Porter in his competitive strategy framework. The unity strategy refers to a holistic approach where all aspects of the business work together seamlessly to achieve a common goal. While it is a valid strategic approach, it is not categorized as a generic strategy like cost leadership, differentiation, or niche strategy.
Cost Leadership Strategy
Cost leadership strategy involves becoming the lowest-cost producer in the industry while maintaining acceptable quality. This strategy aims to attract customers by offering products or services at lower prices than competitors.
Differentiation Strategy
Differentiation strategy involves creating a unique product or service that is perceived as valuable by customers. This strategy focuses on distinguishing the company's offerings from competitors in terms of quality, features, or brand image.
Niche Strategy
Niche strategy involves targeting a specific segment of the market with specialized products or services. This strategy allows companies to focus on serving the needs of a narrow customer base and build a strong competitive advantage within that niche.
In conclusion, while the unity strategy is a valid approach to aligning all aspects of a business towards a common goal, it is not considered one of the traditional generic strategies like cost leadership, differentiation, or niche strategy.
The unity strategy is not a generic strategy. It is not one of the traditional generic strategies proposed by Michael Porter in his competitive strategy framework. The unity strategy refers to a holistic approach where all aspects of the business work together seamlessly to achieve a common goal. While it is a valid strategic approach, it is not categorized as a generic strategy like cost leadership, differentiation, or niche strategy.
Cost Leadership Strategy
Cost leadership strategy involves becoming the lowest-cost producer in the industry while maintaining acceptable quality. This strategy aims to attract customers by offering products or services at lower prices than competitors.
Differentiation Strategy
Differentiation strategy involves creating a unique product or service that is perceived as valuable by customers. This strategy focuses on distinguishing the company's offerings from competitors in terms of quality, features, or brand image.
Niche Strategy
Niche strategy involves targeting a specific segment of the market with specialized products or services. This strategy allows companies to focus on serving the needs of a narrow customer base and build a strong competitive advantage within that niche.
In conclusion, while the unity strategy is a valid approach to aligning all aspects of a business towards a common goal, it is not considered one of the traditional generic strategies like cost leadership, differentiation, or niche strategy.
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Community Answer
Which among the following is not a generic strategy?a)Unity strategyb)...
Michael Porter developed three generic strategies that a company could use to gain competitive advantage, back in 1980. These three are: cost leadership, differentiation and Niche Strategy.
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Which among the following is not a generic strategy?a)Unity strategyb)Cost leadership strategyc)Differentiation strategyd)Niche strategyCorrect answer is option 'A'. Can you explain this answer?
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