Page "Marketing strategy" Paragraph 10
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Strategic scope refers to the market penetration while strategic strength refers to the firm ’ s sustainable competitive advantage.
The generic strategy framework ( porter 1984 ) comprises two alternatives each with two alternative scopes.
** Product differentiation ** Cost leadership ** Market segmentation * Innovation strategies — This deals with the firm's rate of the new product development and business model innovation.
There are three types: ** Pioneers ** Close followers ** Late followers * Growth strategies — In this scheme we ask the question, “ How should the firm grow ?”.
There are a number of different ways of answering that question, but the most common gives four answers:
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