Chapter 3 BB INB495 - Chapter3 TypesofStrategy...

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Chapter 3 Types of Strategy Which Fits Your  Business?
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Four Basic Strategies For-profit business: goal is to identify and pursue  a strategy that will give it a profitable and  defensible hold on a segment of the market Also to increase the range of profitability Non-profit: to provide a service for some reason  other than profit Four strategies: Low-cost leadership Differentiation Customer relationship
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Low-Cost Leadership Strategy Deliver same product/service at a lower price Able to do so by keeping cost structures much  lower Deliver customer’s expected level of value at a  cost that assures adequate profitability Added value as  perceived by  customers Range of pricing  opportunities Customers’ willingness to pay Cost of providing good/service
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Making the Low-Cost Strategy  Work Continuous improvement in operating efficiency
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Chapter 3 BB INB495 - Chapter3 TypesofStrategy...

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