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SM task 4 strategies.pptx

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Strategic Management Strategies 5 -1 Strategic Management Strategies 5 -1

Importance of Perceived Value u Buyers u Price seldom pay for value that is Importance of Perceived Value u Buyers u Price seldom pay for value that is not perceived premium of a differentiation strategy reflects è Value actually delivered to the buyer and è Value perceived by the buyer u Actual and perceived value can differ when buyers are unable to assess their experience with a product 5 -2

Signaling Value as Well as Delivering Value u Incomplete knowledge of buyers causes them Signaling Value as Well as Delivering Value u Incomplete knowledge of buyers causes them to judge value based on such signals as Price Attractive packaging Extensive ad campaigns Ad content and image Seller facilities or professionalism and personality of employees è Having a list of prestigious customers è è è u Signals of value may be as important as actual value when è è Nature of differentiation is hard to quantify Buyers are making first-time purchases Repurchase is infrequent Buyers are unsophisticated 5 -3

Your Task A low-cost provider strategy can defeat a differentiation strategy when buyers are Your Task A low-cost provider strategy can defeat a differentiation strategy when buyers are satisfied with a basic product and don’t think “extra” attributes are worth a higher price. True or false? Explain. 5 -4

Your Task Which of the five generic competitive strategies do you think the following Your Task Which of the five generic competitive strategies do you think the following companies are employing (describe and explain): è General Motors è GAP è Google. com è Avon Products 5 -5