Respuesta :
Three generic business strategies are the strategies for entering a new market including broad cost leadership, broad differentiation, and focused strategy.
In 1980, Michael Porter identified three general tactics that a business could employ to acquire a competitive edge. They are -
A company that uses the cost leadership strategy strives to be the lowest-cost producer in its sector. A company using this strategy makes it its objective to manufacture goods or render services at lower operational costs than its rivals.
Differentiation is the second common business tactic, which entails standing out from the competition. Grant claims that this is a "a focus on new product development, design, service, branding, and advertising
The focus strategy concentrates on a specific niche while ignoring the majority of a product or service market. The market may be "a specific customer base, product line, or geographical market.
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