According to Porter's Four Competitive Strategy Model, What Are the Four

question 98

Essay

According to Porter's four competitive strategy model, what are the four competitive strategies firms can choose?

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Definitions:

Marginal Cost

The cost incurred by producing one additional unit of a product or service.

Price Discrimination

A strategy in pricing where the same provider sells goods or services that are identical or nearly identical at varying prices in distinct markets.

Illegal

refers to activities or actions that are prohibited by law and punishable if violated.

Competition Elimination

The process or strategy of removing or reducing competitors in a market to gain greater market share, either through business practices, mergers, or acquisitions.