Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

To accomplish above average returns, the most ideal way is competitive strategy. This implies fostering a technique for how you will Compete in the market

To accomplish above average returns, the most ideal way is competitive strategy. This implies fostering a technique for how you will Compete in the market place.The most significant methodologies in this are Cost leadership and differentiation. Cost leadership means you are the least expensive choice in without fail. Differentiation implies your item or administration is unique in relation to other on offer which permits you to charge a Premium cost. First,we should lead a competitor analysis to discover who else utilizing similar strategy. A competitor analysis benchmarks you and the other key part in the market on variables like price,service and quality. Offer results of good quality at low cost and consistently treat your client in great way, then, at that point, you will acheive above average returns

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Understanding Management

Authors: Richard L Daft, Dorothy Marcic

6th Edition

9780324581782, 324581785, 978-0324568387

More Books

Students also viewed these General Management questions