Michael Porter has argued that _____ and _____ are two basic strategies for creating value and attaining a competitive advantage in an industry.

Question

Quizplus · Accepted Answer

According to Michael Porter, the two basic strategies for creating value and attaining a competitive advantage in an industry are low cost and differentiation. Low cost strategy aims to offer a product or service at a lower cost than competitors while differentiation strategy aims to offer a unique and superior product or service that is valued by customers. These strategies can be pursued independently or in combination, depending on the company's goals and the competitive dynamics of the industry.

Michael Porter Has Argued That _____ and _____ Are Two

Michael Porter Has Argued That _ and _ Are Two