In simple terms, the Porter's generic strategies can be defined as the ways in which the company would try and pursue with their competitive advantages within the market they choose to reign.
Every company has some form of a marketing idea with which they will start with the marketing or in simpler terms, impressing their clients. Now, the strategies that further help them to build such an immensely important relation with their clients and thereby achieve success within the market of its liking can be called the Porter’s generic strategies.
Mostly one can say that there are three types of generic strategies which are low cost, focus or differentiated. Anyway, to explain the strategies further, we may draw some examples, and they are:
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