Porter’s Generic Strategies

Porter’s Generic Strategies

Test Your Knowledge

  1. Describe Porter’s generic strategies
  2. Distinguish between Porter’s lower cost and differentiation generic strategies
  3. Explain how the lower cost strategy can help a business gain a competitive advantage
  4. Identify 4 ways that a business can differentiate themselves
  5. Michelle’s is a chocolate manufacturer. The business is losing the market share battle with two major competitors. These competitors have are able to operate on a large scale, making them more efficient than Michelle’s business.
    Evaluate Porter’s generic strategies. Propose which generic strategy would be most appropriate for Michelle’s to implement. Justify your proposal.