Firm use the low cost-differentiation and focus strategy

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Is it always harder to find new customers than it is to retain old ones? Or does it depend on the business you’re in?

A firm’s generic strategy is its overall directional strategy at the business level. Michael Porter identified three primary categories of generic strategy such as low cost, differentiation, and focus (or niche). Under what conditions or circumstances should a firm use the low cost, differentiation, and focus (or niche) strategy?

Reference no: EM131727478

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