Competitive strategy

MGT0006

Introduction to Business
Week 17 Seminar 17

Competitive Strategy

Open Ended

Watch video: https://www.youtube.com/watch?v=pjYLmq9f9Bk&t=3s

How does Samsung want to portray the features of their new phone compared to other phones?

 In what ways does Samsung emphasize the superiority of the Samsung over other smartphones?

 

Quiz time!!

Multiple Choice

According to Michael Porter, how many generic strategies are there for companies to gain a competitive advantage?

• Two

• Three

• Four

• None

Multiple Choice

Which of the following is NOT a way that a company can achieve cost leadership?

• Economies of scale

• Proprietary technology

• Distinctive product features

• Preferential access to raw materials

Multiple Choice

What is the main difference between cost focus and differentiation focus?

• Cost focus targets a narrow segment of the market, while differentiation focus targets the entire market.

• Cost focus aims to be the lowest cost producer in the industry, while differentiation focus seeks to be unique in its industry.

• Cost focus relies on economies of scale, while differentiation focus relies on creative advertising.

• Cost focus focuses on offering higher quality products, while differentiation focus focuses on offering lower-priced products.

Multiple Choice

Which among the companies are examples of cost leaders?

• Apple

• Walmart

• Tesla

• Harley-Davidson

Multiple Choice

What is the main goal of differentiation strategy?

• To be the lowest cost producer in the industry

• To target a narrow segment of the market

• To offer products or services perceived as valuable by customers

• To achieve economies of scale

What would you recommend for the following?

Word Cloud

Imagine you are the owner of a small online bookstore. Your competitors include large multinational companies like Amazon and Barnes & Noble.

To gain a competitive advantage, which of Porter's generic strategies would you employ?

Open Ended

Suppose you are the manager of a fast-food restaurant located in a highly competitive market.

Your main competitors are well-established chains that have been around for decades.

How would you apply Porter's generic strategies to differentiate your restaurant from the competition?

Provide specific examples of activities or tactics you would focus on to implement your chosen strategy.

Open Ended

Think about a product or service that you consider to be unique and valuable from your allocated case company. What makes it stand out from its competitors?

Any questions?