Porter's Three Generic Strategies Are

question 51

Multiple Choice

Porter's three generic strategies are:

• A)​Industry-based view, resource-based view, and institution-based view.
• B)​Cost leadership, differentiation, and focus.
• C) ​Rivalry among competitors, threat of potential entry, and threat of substitutes.
• D) ​Potential profitability, assessment of opportunities, and challenge of threats.

Understand the concept of integrated marketing communications and its focus on customer needs.

Know various pricing strategies and when to use them.

Recognize the use of odd pricing and its psychological impact.

Understand the seven-step sales process and its components.