Unformatted text preview: A strategy is a road map a business man draws up of the actions necessary to fulfill a companies missions, objectives, and goals. 1) Cost leadership- Strives to be the lowest cost producer relative to its competitors. E.g.- Dollar Tree has the lowest cost producing store in the business. 2) Differentiation- this kind of company seeks to build customer loyalty by positioning its goods or services in a unique or different fashion. E.g.- Petco, a pet supply store sells luxury pet items and products, and only 40 of its more than 10,000 product offerings overlay the pet supply offerings of Wal mart. 3) Focus- recognizes that not all markets are homogeneous. There are many different customer segments, each having different needs, want and characteristics. The principal is to selects one or more segments and approach them with a good or service designed to excel that need. E.g. Left handed people or petite clothing for customers....
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This note was uploaded on 09/01/2011 for the course BUSINESS 101 taught by Professor Jones during the Spring '11 term at Southern Nazarene.
- Spring '11