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MNM3709 ASSIGNMENT 3 (ANSWERS) SEMESTER 2 2024 - DUE 1 OCTOBER 2024. R50,00   Add to cart

Exam (elaborations)

MNM3709 ASSIGNMENT 3 (ANSWERS) SEMESTER 2 2024 - DUE 1 OCTOBER 2024.

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QUESTION 1 Porter’s model identifies three main generic strategies for creating competitive advantage: cost leadership, differentiation, and focus. Each strategy allows companies to leverage their strengths and outperform competitors by optimizing cost, enhancing unique offerings, or targetin...

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  • September 19, 2024
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MNM3709 ASSIGNMENT 3 (ANSWERS)
SEMESTER 2 2024 - DUE 1 OCTOBER 2024

, Course
Strategic Marketing (MNM3709)
Institution
University Of South Africa (Unisa)
Book
Strategic marketing


Q1




Porter’s Generic Strategies for Gaining Competitive Edge




Porter’s framework outlines three core strategies for achieving competitive advantage: cost

leadership, differentiation, and focus. These approaches enable businesses to leverage their

strengths, outperform rivals, and create a sustainable edge by minimizing costs, offering

distinctive products, or targeting specific market segments. Below is an analysis of how OBC

Chicken and Meat has effectively applied these strategies to secure its competitive position.




Cost Leadership Strategy




The cost leadership strategy involves becoming the lowest-cost producer in the market, allowing

a company to offer products at lower prices than competitors while still remaining profitable. OBC

Chicken and Meat effectively uses this approach by maintaining a cost-efficient structure through

bulk buying, streamlined supply chains, and optimized distribution channels. These efficiencies

enable OBC to provide competitively priced chicken and meat products, appealing especially to

budget-conscious consumers in lower Living Standards Measure (LSM) groups (Wiid et al.,

2020).

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