BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Focus means producing products and services that fulfill the needs of small groups of consumers. Porter’s strategies imply different organizational arrangements, control procedures, and incentive systems.

Detailed explanation-2: -Cost Leadership-Minimizing the costs incurred in providing value (product or service) to a customer or client. Differentiation-This means making ones product unique or special, compared to other competitors or substitute products in the market. Focus: Cost Focus-This does not mean a focus on cost.

Detailed explanation-3: -Type one is a low-cost focus strategy that offers products or services to a small range (niche group) of customers at the lowest price available on the market.

Detailed explanation-4: -Definition: Cost leadership is a term used when a company projects itself as the cheapest manufacturer or provider of a particular product or commodity in a competition. It is difficult to deploy the strategy because the management must constantly work on reducing cost at every level to remain competitive.