Question

Please briefly (25-50 words) describe (in your own words) the “generic strategy” associated with the first letter of your last name (listed below)

Please provide (50-100 words) an example of an organization with the generic strategy associated with the first letter of your last name (listed below) and explain how that organization may create its competitive advantage.

A-D: Low Cost

Answer 1

The generic strategy associated with the first letter of my name is Low cost strategy.

This strategy involves offering products at least cost compared to competitors thus gaining market share from the competition. The firm becomes the go to place for the customers who prefer low cost and budget products.

The genetic strategy associated with the first letter of my last name is Low cost strategy.

Walmart – Walmart is the world’s largest consumer goods retailer firm with thousands of stores across the world

The generic competitive strategy of Walmart is Cost leadership. The firm focuses on offering lowest possible prices on its products to the customers. Below is how Walmart stands as a cost leader –

1. Everyday low prices campaign and strategy to attract consumers
2. Offering products cheaper than those of competitors on a consistent basis
3. Increasing sales revenues through high volumes, large scale and efficient supply chain
4. Procuring products from suppliers who offer high volumes at relatively lower prices
5. Offering wide range of product options for customers at discounted prices
6. Increasing footfall of customers by providing various offers
7. E-commerce business offering door delivery of products ordered online

Answer 2

Please provide (50-100 words) an example of an organization with the generic strategy associated with the first letter of your last name (listed below) and explain how that organization may create its competitive advantage

Focused Differentiation