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21download_doc-30.php - J370 Session 7 Product...

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J370 Session 7 Product Differentiation Class Session #7 – Tuesday, September 22 Dr. Siri Terjesen Debrief: T Boone Pickens What is T Boone Pickens’ ‘Theory of Strategy’ Strategy thoughts on: Macro-environment Industry Firm Individual Who, what, when, where, how, for whom? Stakeholders? Planned versus realized/emergent strategy? Other themes from strategy class? Key Strategy Questions An Overview of The Context of Strategy Stakeholders influence strategists! Stakeholders: individuals and groups who are potentially affected by an organization’s activities and may attempt to influence its strategy Vary in power and attentiveness Each stakeholder has unique perspective and may conflict, even within the firm Synergies: enable one resource to increase the impact of others The Strategic Management Process Business Level Strategies Two Generic Business Level Strategies Cost Leadership: Generate economic value by having lower costs than competitors Example: Wal-Mart Product Differentiation: Generate economic value by offering a product that customers prefer over competitors’ product Example: Harley Davidson, Mercedes, Shutterfly Product Differentiation Product differentiation business level strategy: Increases the perceived value of the focal firm’s products and/or services relative to the value of competitor’s products and/or services Creates a customer preference for the focal firm’s products and/or services (must value the
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This note was uploaded on 04/18/2011 for the course BUS 370 taught by Professor Camp during the Fall '09 term at Indiana.

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21download_doc-30.php - J370 Session 7 Product...

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