Asked by calliegh damlow on Sep 28, 2024

The generic strategy of superior customer value is difficult to implement because it requires balancing differentiation with competitive pricing.

Generic Strategy

A fundamental strategy a company can adopt to achieve a competitive advantage, typically categorized as cost leadership, differentiation, or focus.

Competitive Pricing

A pricing strategy where a company sets its product prices based on the prices of competitors, aiming to offer more value or lower costs.

Differentiation

A marketing strategy that involves making a product or service stand out from competitors by emphasizing its unique features or benefits.

  • Distinguish and recognize the distinctions among various generic marketing strategies.
  • Recognize the significance of price and quality in consumer decision-making processes.