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Marketing Marketing Management Process Overall Cost Leadership Principles Of Marketing Strategic Business Unit
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Alice Rees
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Carol Rushing
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Patsy Brent
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Michael Seabolt
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Jay Barber
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Livia Baldwin
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Jazzlyn Howe
182 terms
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Lesly Lloyd
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Jaxon Wilson
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Adam Howard
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Jazzlyn Howe
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Thomas Owen
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Overall cost leadership, differentiation, and focus
According to Michael Porter, what are three effective competitive positioning strategies?
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The text discusses 3 approaches to combining overall cost leadership and differentiation competitive advantages. These are:
automated and flexible manufacturing systems, exploiting the profit pool concept for competitive advantage, coordinating the extended value chain by way of information and technology
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3.1 Overall Cost Leadership
– Low-cost-position relative to a firm’s peers – Manage relationships throughout the entire value chain
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Firms that compete on overall cost leadership are vulnerable if all rivals share a common input or raw material that contributes a significant amount to total costs.
To generate above-average returns, a firm following an overall cost leadership position should NOT be concerned with attaining parity or proximity on the basis of differentiation relative to its peers.
4. Overall Cost Leadership
Requires a tight set of interrelated tactics that includes: • Tight cost and overhead control • Avoidance of marginal customer accounts • Cost minimization in all activities in the firm’s value chain?R&D, service, sales force, and advertising Experience curve – Refers to how business “learns” to lower costs as it gains experience with production processes. – With experience, unit costs of production decline as output increases in most industries.
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