MICHAEL PORTER’S GENERIC STRATEGIES

MICHAEL PORTER’S GENERIC STRATEGIES Michael Porter’s Generic strategy identifies the business how to gain competitive advantage. Generic Strategies are: Cost leadership: Product sells at Low cost Differentiation: Products sell at premium price Focus: Products sell at segment wise These strategies are known as generic because of all business or industries can pursue them regardless of whether they are manufacturing, service or not-for-profit organizations. It results from a firm’s making consistent choices on product, market and distinctive competencies.