Advantages of combining the generic strategies of overall cost leadership and differentiation:

1) Increased Market Share: Some customers are willing to pay more to achieve superior quality products with unique use. In contrast, some customers, on the other hand, need adorable products because they are price sensitive. In such a scenario, a company must combine cost leadership and differentiation if it wants to get customers that fall into both categories and expand its market share. (How Can an Integrated Cost Leadership Differentiation Strategy Be Implemented?,2023)

2) Competitive Advantage: By collaborating the ideas of cost leadership and differentiation, companies can create a long-term competitive advantage. Companies can produce or develop products with high-end quality, and district features cheaper than their competitors. By this, they can take control of the industry as their competitors will be changing a higher price for similar products. (How Can an Integrated Cost Leadership Differentiation Strategy Be Implemented?,2023)

1. 3) Higher profit: As the customers will be inclined to purchase high-quality products at a cheaper rate, the company will get increased sales, leading to a higher profit (How Can an Integrated Cost Leadership Differentiation Strategy Be Implemented?,2023)
3. Challenges of combining the generic strategies of overall cost leadership and differentiation:
4. 1) Stuck-in-the-middle: Combining cost leadership and differentiation demands a firm grasp of the company's fundamental competencies and strategic objectives. When a company's focus is split, it may struggle to thrive in either cost leadership or differentiation, resulting in average performance (Martin, 2022)
6. 2) Increased cost: Combining cost leadership and differentiation will demand investments in technology, R&D, marketing, and more. These investments can put a strain on a company's finances in the short term.

References

How Can An Integrated Cost Leadership Differentiation Strategy Be Implemented?(2023, March 27). GITNUX. https://blog.gitnux.com/business-guides/integrated-cost-leadership-differentiation-strategy/#:~:text=An%20integrated%20cost%20leadership%20differentiation%20strategy%20is%20a%20competitive%20approach,market%20appeal%20and%20enhanced%20profitability.

Martin, R. (2022, January 7). Can You Be Both Cost Leader & Differentiator? - Roger Martin - Medium.Medium. https://rogermartin.medium.com/can-you-be-both-cost-leader-differentiator-1774d5c7ff86

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