The three generic strategies developed by Porter which may be helpful for organizations who wish to compete successfully and profitably includes:
A) Profit leadership, differentiation, and focus
B) Customer leadership, development, and focus
C) Cost leadership, development, and funding
D) Cost leadership, differentiation, and focus

Question

Quizplus · Accepted Answer

Porter's three generic strategies are cost leadership, differentiation, and focus. Cost leadership strategy focuses on achieving the lowest cost of production and thus offering lower prices than competitors. Differentiation strategy focuses on offering unique and superior value to customers, which differentiates the product or service from competitors. Focus strategy involves targeting a specific market segment and concentrating on meeting the needs and preferences of that segment. Combining these strategies can help organizations compete successfully and profitably.

The Three Generic Strategies Developed by Porter Which May Be