identify and explain the product support services which automobiles manufacturers can offer to remain competitive for gaining competitive advantage.
Answers
Answer:
The main challenge for business strategy is to find a way of achieving a sustainable competitive advantage over the other competing products and firms in a market.
A competitive advantage is an advantage over competitors gained by offering consumers greater value, either by means of lower prices or by providing greater benefits and service that justifies higher prices.
Porter suggested four "generic" business strategies that could be adopted in order to gain competitive advantage. The strategies relate to the extent to which the scope of a business' activities are narrow versus broad and the extent to which a business seeks to differentiate its products.
The strategies that Porter suggested are appropriate to seek competitive advantage are summarised in the figure below:
The differentiation and cost leadership strategies seek competitive advantage in a broad range of market or industry segments.
By contrast, the differentiation focus and cost focus strategies are adopted in a narrow market or industry.
Explanation:
The main challenge for business strategy is to find a way of achieving a sustainable competitive advantage over the other competing products and firms in a market.
A competitive advantage is an advantage over competitors gained by offering consumers greater value, either by means of lower prices or by providing greater benefits and service that justifies higher prices.
Porter suggested four "generic" business strategies that could be adopted in order to gain competitive advantage. The strategies relate to the extent to which the scope of a business' activities are narrow versus broad and the extent to which a business seeks to differentiate its products.
The strategies that Porter suggested are appropriate to seek competitive advantage are summarised in the figure below:
The differentiation and cost leadership strategies seek competitive advantage in a broad range of market or industry segments.
By contrast, the differentiation focus and cost focus strategies are adopted in a narrow market or industry.
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