Question: What Is Alternative Strategy?

What is the best cost strategy?

A best-cost strategy relies on offering customers better value for money by focusing both on low cost and upscale difference.

The ultimate goal of the best-cost strategy is to keep costs and prices lower than other providers of similar products with comparable quality and features..

What are Porter’s four generic strategies?

Porter called the generic strategies “Cost Leadership” (no frills), “Differentiation” (creating uniquely desirable products and services) and “Focus” (offering a specialized service in a niche market).

What are the strategic alternatives?

Strategic alternatives are strategies that a business develops to set the direction, for which human and material resources will be applied, for a greater chance of achieving selected goals, notes iEduNote.

What are the four corporate level strategies?

Types of Corporate Level Strategy – 4 Major Types: Stability Strategy, Expansion Strategy, Retrenchment Strategy and Combination Strategy.

What are the 4 competitive strategies?

4 competitive strategy are as follows:Cost Leadership Strategy or Low-cost strategy.Differentiation strategy.Best-cost strategy.Market-niche or focus strategy.

What are two main types of corporate strategies?

Different types of corporate strategyGrowth Strategies. Growth strategies aim to achieve considerable business growth in the areas of revenue, market share, penetration, etc. … Stability Strategies. … Retrenchment Strategies. … Re-Invention Strategies.

What is the strategy to attract customers?

Possibly the most conventional strategy to attract customers, transactional marketing is applied when businesses entice customers and encourage them to buy their products and services by offering discounts, coupons, and other incentives to buy.

What are Michael Porter’s competitive strategies?

The two basic types of competitive advantage combined with the scope of activities for which a firm seeks to achieve them, lead to three generic strategies for achieving above average performance in an industry: cost leadership, differentiation, and focus.