BSG Exam 2 Complete Questions And Answers With Verified Solutions

BSG Exam 2 Complete Questions And Answers With Verified Solutions Business Strategy the firm's working plan for achieving its vision, prioritizing objectives, competing successfully and optimizing financial performance with its business model Generic Strategies one is based on achieving lower costs than rivals, a second is based on differentiation from the competition and another is appealing to a narrow market segment within an industry. these can also be combined with each other Low Cost Provider Strategy striving to achieve broad lower overall costs than rivals on comparable products that attract a broad spectrum of buyers, usually by underpricing rivals. Broad Differentiation Strategy seeking to differentiate the company's product offering from rivals' with attributes that will appeal to a broad spectrum of buyers Focused Low Cost Strategy concentrating on the needs and requirements of a narrow buyer segment (or market niche) and striving to meet these needs at lower costs than rivals (thereby being able to serve niche members at a lower price)