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Essay's paper info
| Topic: |
Business
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| Number of pages / Number of words: |
10 / 2648 |
Essay's paper body
The important issue for any business adopting this strategy is to ensure that customers really do have different needs and wants - in other words that there is a valid basis for differentiation - and that existing competitor products are not meeting those needs and wants.
Strategy - Cost Focus
Here a business seeks a lower-cost advantage in just on or a small number of market segments...
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The product will be basic - perhaps a similar product to the higher-priced and featured market leader, but acceptable to sufficient consumers. Such products are often called "me-too's".
Strategy - analysing competitive industry structure
Defining an industry
An industry is a group of firms that market products which are close substitutes for each other (e...
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