Distinguish between Porter’s lower cost and differentiation generic strategies
Explain how the lower cost strategy can help a business gain a competitive advantage
Identify 4 ways that a business can differentiate themselves
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.