What are the 4 building blocks of competitive advantage, according to M. Porter?
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Question
What are the 4 building blocks of competitive advantage, according to M. Porter?
What did Michael Porter mean by being “stuck in the middle”?
According to Porter, what two strategies make the most sense if you are targeting just one or a few market segments?
Which of Porter’s generic strategies makes the most sense if a firm is selling a commodity product? Why?
Which of Porter’s strategies makes the most sense if buyers’ needs are diverse?
Which of Porter’s strategies tends to be the most expensive? Explain.
Explanation / Answer
1. the four building blocks of competitive advantage are:
2. When a firm do not have or do not offering any unique or speical offers to its customers, or not able to providing specific offers to its customers, and also the prices are higher than its competitor's products, then it is said to be as stuck in middle.
3. the two best strategies are:
4. The best strategy for selling commodities in market, as per Porter is, differentiation strategy. By differentiating the products from other's product, the producer can able to sell it in market succesfully. the more uniqe features it carries, the more benefits it offers, the more demand will be there.
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