BPS 4305 Lecture Notes - Lecture 7: Ikea, Caribou Coffee, Customer Service
6 Sep 2016
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Document Summary
How to choose which markets you want to compete in. Firm"s success is driven by both internal operations. Firms that succeed with the right resources as well. Business level strategy a strategy designed for a firm or division of the firm that competes in a. Single business: one product market, analyze between one product market. Business-level strategies require a choice: how to overcome the five forces and achieve competitive advantage. Suggestion porters three generic strategies: cost leadership, differentiation and focus. Differentiation: uniqueness perceived by the customer, exm. Cost leadership: hyundai: broad markets, cost leadership. Differentiation: audi - name is important: broad markets, differentiation. Focus: kia younger demographic: focused markets, cost leadership, hummer: focused market, differentiation. Cost leadership involves: aggressive construction of efficiency and scale facilities (manufacturing, vigorous pursuit of cost reductions from experience (pricing, marketing, tight cost & overhead control, avoidance of marginal customer accounts, cost minimization.
