What are the two generic competitive strategies that Porter promotes as the means for outperforming other corporations in a particular industry?
A)competitive scope and differentiation
B)diversification and concentration
C)lower cost and competitive scope
D)concentration and lower cost
E)lower cost and differentiation

Question

Quizplus · Accepted Answer

Porter promotes the two generic competitive strategies of "lower cost" and "differentiation" as the means for outperforming other corporations in a particular industry. These strategies can be pursued either individually or in combination, depending on the specific needs and goals of the business. The lower cost strategy involves finding ways to reduce costs and offer products or services at a lower price than competitors, while the differentiation strategy involves creating a unique product or service that is perceived as superior by customers.

What Are the Two Generic Competitive Strategies That Porter Promotes