Market Positioning (AQA A-Level Business): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
ShowHide
Practise the cards
10 cards from this deck
Positioning strategy definition
Positioning strategy definition
Strategic choice determining how a business competes in market
Two main types of competitive advantage
Two main types of competitive advantage
Cost advantage and differentiation advantage
Cost advantage definition
Cost advantage definition
Selling similar product at lower cost than rivals
Differentiation advantage definition
Differentiation advantage definition
Selling better products at same/higher prices than competitors
Porter's three generic strategies
Porter's three generic strategies
Cost leadership, differentiation, and focus
Cost leadership strategy aim
Cost leadership strategy aim
Achieve lowest cost of production for given quality level
Focus strategy definition
Focus strategy definition
Concentrates on niche markets to achieve cost or differentiation
Porter's strategic matrix factors
Porter's strategic matrix factors
Competitive advantage (cost/differentiation) & market scope
Bowman's clock positions 6-8 result
Bowman's clock positions 6-8 result
Destined to fail (high price, low perceived value)
Hybrid strategy (Position 3) features
Hybrid strategy (Position 3) features
Modest prices with relatively high perceived added value