Four generic business-level strategies: cost leadership, differentiation, focused cost leadership, and focused differentiation. A cost leadership strategy is an integrated set of actions designed to produce or deliver goods or services at the lowest cost, relative to competitors, with features that are acceptable to customers. A differentiation strategy is an integrated set of actions designed to produce goods or services that customers perceive as being different in ways that are important to them. The focused cost leadership stratety, as the words suggest, the cost leadership is focused on a narrow market segment. And the focused differentiation strategy, means the goods or services are differentiated to serve the unique needs of particulare market segments.
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