What is meant by competitive strategy List three generic com

What is meant by \"competitive strategy\"? List three generic competitive strategies?

Solution

Competitive Strategy: A long term plan by a company to gain a competitive advantage over
its competitors in the market. This plan is aimed at creating a defensive position over the
opponents, but generating a superior Return of Investment. When similar products exist in
the market and competitive, these sort of strategies play a very important role.
The types of competitive strategies by Micheal Porter include:
-> Cost Leadership.
-> Cost Focus.
-> Differentiation.
-> Differentiation Focus.