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Selecting Marketing Strategies

Selecting Marketing Strategies. A2 Business Studies. Aims and Objectives. Aim: Understand porters’ generic strategies Objectives: Define Porter’s Generic Strategies Explain the Porters’ Generic Strategies Analyse firms in relation to the theory Evaluate the use of the theory. Starter.

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Selecting Marketing Strategies

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  1. Selecting Marketing Strategies A2 Business Studies

  2. Aims and Objectives Aim: • Understand porters’ generic strategies Objectives: • Define Porter’s Generic Strategies • Explain the Porters’ Generic Strategies • Analyse firms in relation to the theory • Evaluate the use of the theory

  3. Starter • Define Test Markets • Define Moving Averages • Define Extrapolation

  4. Porter’s Generic Strategies • Michael Porter 1980s • Generic Marketing strategies which could be applied to all products and services in all industries, regardless of the type of organisation or size. • Each of the strategies is a way of gaining a competitive advantage, or edge, over the competition.

  5. Porters’ Generic Strategies Competitive ScopeNarrowBroad Cost Leadership Differentiation Cost Differentiation Source of Competitive Advantage Cost Focus Differentiation Focus

  6. Porters’ Generic Strategies Task Task: • Decide upon which strategy is most appropriate for each business and place them on the diagram. • Justify why you have placed each firm where you have on the diagram.

  7. Case Study: European Organic Fruit Juices Task: In groups comment on the advice given to organic juice companies in relation to Porter’s four generic strategies. Do you feel it is appropriate? If so, why?

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