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Essay / Research Paper Abstract
This 19 page paper examines Porter’s generic strategies of cost advantage and differentiation. The paper defines what these strategies are and how they are achieved. The paper then examines the evidence available from the current commercial environment in order to assess whether these two strategies are mutually exclusive, or if can be compatible, possibly even necessary when a company wants to become a market leader. Real examples are used to illustrate the points raised. The bibliography cites 12 sources.
Page Count:
19 pages (~225 words per page)
File: TS14_TEcompad1.rtf
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Unformatted sample text from the term paper:
in an electrical shop there will be many models of washing machines or videos available, in a supermarket there will be many different types of pet food. When there is
a choice the consumer needs to make a decision on which product they will purchase. This is a complex process, but will have its basis in data available and perceptions
regarding the good. In other words, there needs to be a reason why the consumer should buy the product. If the decision was based on price only, then there would
be no real competition, the cheapest gods would be those that sell. However, to survive a company need to look deeper both as the consumer market and the competitive environment
so that they sell goods and other products do not push their market share out of the market. Therefore, however it is achieved, to make sure a product is sold,
the company needs to develop some type of advantage over its rivals. Michael Porter has considered the way in which firms compete,
and defined two types of competitive advantage. These are cost advantage and differentiation. These are two different ways a competitor may get the edge on its rivals. For example, if
there are two products which are very similar, neither has the advantage, but if one looks better, or has extra features, it may have an advantage just as if one
costs a company less to produce, the company will have an advantage afforded by superior profits. To compete in the long term Porter has argued that there should be a
source of competitive advantage, however, that the two advantages of cost and differentiation are not compatible, and will create consumer confusion. Others, such as Asker, argues that the two may
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