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فيديو شرح Michael Porter Competitive Strategies Cost Accounting CPA Exam BAR CMA Exam ضمن كورس محاسبة التكاليف شرح قناة Farhat Lectures. The # 1 CPA & Accounting Courses، الفديو رقم 3 مجانى معتمد اونلاين
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In developing a sustainable competitive position, each firm purposefully or as a result of market forces arrives at one of the two competitive strategies: cost leadership or differentiation.3 Cost Leadership Cost leadership is a competitive strategy in which a firm outperforms competitors in produc- ing products or services at the lowest cost. The cost leader makes sustainable profits at lower prices, thereby limiting the growth of competition in the industry through its success at reduc- ing price and undermining the profitability of competitors, which must meet the firm’s low price. The cost leader normally has a relatively large market share and tends to avoid niche or segment markets by using the price advantage to attract a large portion of the broad market.
The differentiation strategy is implemented by creating a product or service that is unique in some important way, usually in regard to higher quality, better customer service, improved product features, or some type of innovation. Sometimes a differentiation strategy is called product leadership to refer to the innovation and features in the product. In other cases, the strategy might be called a customer-focused or customer-solution strategy, to indicate that the organization succeeds on some dimension(s) of customer service. This perception allows the firm to charge higher prices and outperform the competition in profits without reduc- ing costs significantly. Many industries, including consumer electronics and clothing, have differentiated firms. The appeal of differentiation is especially strong for product lines for which the perception of quality and image is important, as in cosmetics, jewelry, and automo- biles. Tiffany, Bentley, Rolex, Whirlpool, and BMW are good examples of firms that have a differentiation strategy.